GDP in at 0.2%

[anonymous-user]

Just thought I would start a thread on this as there does not seem to be one! The first official estimates for GDP growth for January to March has come in at 0.2%, down from the 0.4% in the final three months of last year and half the 0.4% economists were predicting. This might change I guess as the estimates for the last qurter of 2009 where 0.1% and jumped to 0.4%! What does this all mean!? does anyone care!? over to PH!

[JagLover]

Most forecasters are predicting aneamic growth for this year.

Future years should be better, though nothing like as rosy as the government predicts. It is going to be along hard slog putting the economy and the public finances back in order.

[Puggit]

JagLover said:

It is going to be along hard slog putting the economy and the public finances back in order.

Especially if you 'add' £6bn to the economy with the NI tax...

[fido]

MonkeyMatt said:

What does this all mean!? does anyone care!? over to PH!

It means that £200bn of quantitative easing hasn't generated much growth. In fact it has stimulated as much growth as the contents of my trousers after reading that article.

[JRM]

Better than nothing at all

[Fittster]

anonymous said:

[redacted]

There's also the devaluation and the inflation that has been allowed to happen.

[ewenm]

Puggit said:

JagLover said:

It is going to be along hard slog putting the economy and the public finances back in order.

Especially if you 'add' £6bn to the economy with the NI tax...

I was shouting at the TV last night - do these politicians think that "the economy" is purely "the tax take"? Where do they think this £6bn comes from if not the economy already?

[Fittster]

ewenm said:

Puggit said:

JagLover said:

It is going to be along hard slog putting the economy and the public finances back in order.

Especially if you 'add' £6bn to the economy with the NI tax...

I was shouting at the TV last night - do these politicians think that "the economy" is purely "the tax take"? Where do they think this £6bn comes from if not the economy already?

National debit in 1.4 Trillion and a deficit is £150+ billion. Does anyone think 6bn is going to have an impact?

[Puggit]

Fittster said:

ewenm said:

Puggit said:

JagLover said:

It is going to be along hard slog putting the economy and the public finances back in order.

Especially if you 'add' £6bn to the economy with the NI tax...

I was shouting at the TV last night - do these politicians think that "the economy" is purely "the tax take"? Where do they think this £6bn comes from if not the economy already?

National debit in 1.4 Trillion and a deficit is £150+ billion. Does anyone think 6bn is going to have an impact?

Gordon the Moron apparently

[Esseesse]

anonymous said:

[redacted]

But at least it allows Gordon to pretend he's doing well right before the election.

[XJR40]

It would be interesting to see what the figure would be really if you were to discount all the government stimulus and spending enabled by the debt created.

It seems crazy to steal from the future to prop up GDP, we'll surely end up paying more through higher taxes to pay the interest payments, and thus have lower growth in future? I think we just need to make the public sector cuts and take the pain now.

Edited by XJR40 on Friday 23 April 13:06

[anonymous-user]

anonymous said:

[redacted]

its unfair to say QE hasnt worked because you have no idea how bad things would have been without it. i'm inclined to think we would be in deep, deep st without it. the fact that gdp is still so weak despite QE goes to show just how much labour have fvcked up this country. again.

[andy43]

Using QE to further piss money up the wall is not the right way to spend it.

[fido]

anonymous said:

[redacted]

Exactly, a sizeable portion of it has gone to useless/overpaid quango jobs & contractors working on unneccessary projects - instead of keeping businesses alive and future investment in areas that we could actually benefit from. Many of those useless public sector projects will be canned anyway. Still if you think that £200-£400bn was money well spent, then it's been a great result.

[anonymous-user]

anonymous said:

[redacted]

im not sure the boe could ever buy up corporate debt, i'd guess there is no way they are allowed to. whatever, we're both barking up the same tree...

[anonymous-user]

anonymous said:

[redacted]

[Andy Zarse]

Puggit said:

Fittster said:

ewenm said:

Puggit said:

JagLover said:

It is going to be along hard slog putting the economy and the public finances back in order.

Especially if you 'add' £6bn to the economy with the NI tax...

I was shouting at the TV last night - do these politicians think that "the economy" is purely "the tax take"? Where do they think this £6bn comes from if not the economy already?

National debit in 1.4 Trillion and a deficit is £150+ billion. Does anyone think 6bn is going to have an impact?

Gordon the Moron apparently

But Winky's increasing the NI "Jobs Tax" by 1% to raise £6bn to save us all by spending it on more waste public services. Yet again last night he criticised CMD for wanting "to take £6bn out of the economy". Why doesn't the stupid fker increase NI to 100% and keep all the money in the economy? And why doesn't CMD take him to town on what must be the most stupid phrase I've heard a politician utter since "Things can only get better"?

I was boiling over last night and shouting at the telly when the ineffectual Cameron let it go yet again. Some guy later on QT pointed out you might as well burn the money, so if he can see the point surely Cameron can? I despair...

Edited by Andy Zarse on Friday 23 April 14:26

[fido]

anonymous said:

[redacted]

[Zod]

JRM said:

Better than nothing at all

No, it's within the margin of error, so it's the same asw nothing at all.

"Don't let the Tories endanger the recovery."


What recovery, you useless fk?

[markcoznottz]

anonymous said:

[redacted]

Just clarify that will you?. I thought that the government had printed £200 and used it to effectively buy its own debt?. Is that right?. Where does the interest come into it?. Do we have to pay interest back on our own debt?.