Post by Clinton Cool on Feb 15, 2024 8:25:44 GMT
Well, it's been confirmed, the economy shrunk by a 'massive' 0.1% in the last quarter. This follows another similar 'massive' contraction the previous quarter. So, the criteria has been met, Britain is officially in recession.
Armegeddon.
I wonder what knee jerk policy change will result, from this reactionary government. Will they lean on the Bank of England to ease interest rates, promoting inflation? Or will they dig out the tired old quantitative easing thing, abandoning the inflation target, devaluing everyone's savings and pension pots in a desperate election year attempt to prove 'we are good with the economy'?
As for Labour, this is more ammunition for them. Vote for us, we are the socialists, who don't really believe in private enterprise, who know best how to promote a vibrant economy, whose heartbeat is private enterprise. Please ignore the fact that our growth plans majored on 'investing' (borrowing-no plans for repayment) £28B a year to spend on so called green projects. A plan that we have since scrapped. We scrapped it because it's unaffordable even though we confirmed its affordability at a time when the public finances were in a worse condition than when we abandoned the plan, and when interest rates were higher than they are now. Ignore all this. We don't have any plans but the Tories trashed the economy, we are a better choice, even though we don't really believe in private enterprise and if anyone makes a success of it, we tend to blame them for wider problems in society.
Armegeddon.
I wonder what knee jerk policy change will result, from this reactionary government. Will they lean on the Bank of England to ease interest rates, promoting inflation? Or will they dig out the tired old quantitative easing thing, abandoning the inflation target, devaluing everyone's savings and pension pots in a desperate election year attempt to prove 'we are good with the economy'?
As for Labour, this is more ammunition for them. Vote for us, we are the socialists, who don't really believe in private enterprise, who know best how to promote a vibrant economy, whose heartbeat is private enterprise. Please ignore the fact that our growth plans majored on 'investing' (borrowing-no plans for repayment) £28B a year to spend on so called green projects. A plan that we have since scrapped. We scrapped it because it's unaffordable even though we confirmed its affordability at a time when the public finances were in a worse condition than when we abandoned the plan, and when interest rates were higher than they are now. Ignore all this. We don't have any plans but the Tories trashed the economy, we are a better choice, even though we don't really believe in private enterprise and if anyone makes a success of it, we tend to blame them for wider problems in society.
