MSE News: Economic recovery fragile until 2011, CBI warns

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"The UK's economic recovery will not pick up pace until the middle of next year, a business group warns today ..."

Read the full story:

Economic recovery fragile until 2011, CBI warns

[URL="http://www.moneysavingexpert.com/news/banking/2010/03/economic-recovery-fragile-until-2011-cbi-warns]"]
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StevieJ

Another way of looking at it.

UK economy to pick up pace in 2011.

That is good news considering that huge deficit that has to be tackled, especially with Georgie boy wielding the axe Here comes Georgie :eek:

treliac

From the article:-

It expects the Bank of England to begin raising interest rates in the third quarter of this year, with the base rate ending 2011 at 2%.

After the election, as expected. Wonder what impact rises will have on mortgage holders who have been largely protected under current rates.

lemonjelly

Interesting to see the CBI publish an opinion on the economic recovery a couple of days prior to the budget.

Please be nice to us mr chancellor sir...

mystic_trev

I find this quite staggering!:eek:

Official figures before the Budget on Wednesday disclose that public spending makes up 52 per cent of the gross domestic product.

When Labour came to power in 1997, the state’s share was 40 per cent. However, it has risen steeply over 13 years in which Government spending and the size of the public sector workforce have increased significantly, paid for by higher taxes.

and

New analysis released yesterday showed that Britain already has the highest income tax rates in the G8 group of the world’s biggest economies. Overall, the average Briton now pays twice as much tax as when Labour came to power.

http://www.telegraph.co.uk/news/newstopics/politics/7495214/Budget-2010-Relentless-march-of-state-spending.html