What the EU Thinks of the UK Economy (Cert 18)

Generali

http://ec.europa.eu/economy_finance/publications/publication15048_en.pdf

From page 114. Don't show the kiddies.

The central outlook expects quarterly growth to remain negative for the first three quarters of 2009 due to a pronounced fall in domestic demand, followed by two quarters of virtual stagnation and only a gradual return to slight positive growth by late 2010.......

The central outlook expects quarterly growth to remain negative for the first three quarters of 2009 due to a pronounced fall in domestic demand, followed by two quarters of virtual stagnation and only a gradual return to slight positive growth by late 2010.......

A further extraordinary deterioration in public finances is forecast for the following two years, with the deficit projected at around 13% of GDP in both 2009/10 and 2010/11.......

By 2010/11, interest payments are expected to increase by almost one-third compared with 2008/09, mirroring the surge in the government debt ratio.

And what the FT thinks of that (link):

The painful conclusion must be that the UK has lost control over public spending. It has to get it back again. Whether they like it or not, UK voters will have to elect a government willing to achieve this end. Government solvency is at stake. The next government will, as a result, find itself in a war of attrition with its own servants

chrisandanne

Tch, tch, Those doom and gloom merchants at it again !!.

Congrats on the job, hope you enjoy it....so would you say now is the best time to buy a house ?.

A x

Generali

chrisandanne wrote: »

Tch, tch, Those doom and gloom merchants at it again !!.

Congrats on the job, hope you enjoy it....so would you say now is the best time to buy a house ?.

A x

It's a pretty damning analysis.

I'd say it's the best time to buy a mortgage from me but then it always is! If the EU piece is correct then I'd probably wait a while before buying a house in the UK.

I've got an interview to be an old fashionned bank manager at some point soon too. It looks like things are starting to come together for me over here.

purch

The painful conclusion must be that the UK has lost control over public spending

Have we ever REALLY had any control at all for many decades ???

chrisandanne

Brilliant Gen, I'm really pleased for you.

A x

Generali

purch wrote: »

Have we ever REALLY had any control at all for many decades ???

It's the trouble with a big welfare state - you're writing a blank cheque so you lose control of state finances forever.

mewbie_2

Generali wrote: »

It's the trouble with a big welfare state - you're writing a blank cheque so you lose control of state finances forever.

I don't see why a welfare state cannot be run more like a business. So how many levels of management does a hospital require for instance? Why do the police need so much overtime to do their job? Who is awarding contracts to companies for computer systems that fail and over budget time after time? Why does the Olympics need to cost billions? Why can't it be self financing?

And so on.

1984ReturnsForReal_2

Generali wrote: »

It's the trouble with a big welfare state - you're writing a blank cheque so you lose control of state finances forever.

I think the welfare state is the last of our worries...

cocktail

1984ReturnsForReal wrote: »

I think the welfare state is the last of our worries...

tax credits, benefits,allowances, heating bills,housing,fat cat bonuses, !!!!!! bills.......there is a limit to what the taxpayer can afford to pay.

ad9898_3

Generali wrote: »

http://ec.europa.eu/economy_finance/publications/publication15048_en.pdf

From page 114. Don't show the kiddies.



And what the FT thinks of that (link):

Green shoots........... napalmed.

1984ReturnsForReal_2

cocktail wrote: »

tax credits, benefits,allowances, heating bills,housing,fat cat bonuses, !!!!!! bills.......there is a limit to what the taxpayer can afford to pay.

I mean it all starts at the top.