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British economy will surge next year

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Comments

  • nollag2006
    nollag2006 Posts: 2,638 Forumite
    doire wrote: »
    Thats funny because the past few months you have been banging on that the economy has been accelerating at a lightning pace.

    Glad that you accept that we are now out of the recession, and recovery is underway !!!


    :beer:
  • FATBALLZ
    FATBALLZ Posts: 5,146 Forumite
    I am quite baffled by this, if drastic public service cuts make no difference whatsoever (and we all know they are on the way), why is it such a big election issue, and why do millions slag off the tories for making cuts last time they were in power?
  • nollag2006
    nollag2006 Posts: 2,638 Forumite
    The stock market, the housing market, and the wider economy reacts well to these sort of cuts. The sooner they come, the better.

    It is just what we need to bolster the economic growth to date.
  • bo_drinker
    bo_drinker Posts: 3,924 Forumite
    http://forums.moneysavingexpert.com/showthread.html?t=2413777
    I came in to this world with nothing and I've still got most of it left. :rolleyes:
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Generali wrote: »
    It's not surprising they get the same numbers as the Government, they use the same economic model!

    E&Y are basing their forecast on an export led recovery, whereas the Treasury is basing their's on housing and consumer spending. So the two significantly differ.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Below is link to the E&Y forecast.
    http://www.ey.com/UK/en/Issues/Business-environment/Financial-markets-and-economy/Economic-Outlook
  • StevieJ
    StevieJ Posts: 20,174 Forumite
    Part of the Furniture 10,000 Posts Combo Breaker
    Thrugelmir wrote: »
    E&Y are basing their forecast on an export led recovery, whereas the Treasury is basing their's on housing and consumer spending. So the two significantly differ.

    Doesn't look significantly different to me.

    Mr Bean was indeed describing the forecast accurately. As far as I can tell from judicious use of my ruler, the Bank’s risk-adjusted forecast (the mean of the forecast distribution) is for growth of 1.3 per cent in 2010, 3 per cent in 2011 and 2.9 per cent in 2012. In November, the equivalent figures were 1.5 per cent, 3.1 per cent and 2.6 per cent.

    http://blogs.ft.com/money-supply/2010/02/10/bank-of-england-gloomier-forecasts/
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    StevieJ wrote: »
    Doesn't look significantly different to me.

    Mr Bean was indeed describing the forecast accurately. As far as I can tell from judicious use of my ruler, the Bank’s risk-adjusted forecast (the mean of the forecast distribution) is for growth of 1.3 per cent in 2010, 3 per cent in 2011 and 2.9 per cent in 2012. In November, the equivalent figures were 1.5 per cent, 3.1 per cent and 2.6 per cent.

    http://blogs.ft.com/money-supply/2010/02/10/bank-of-england-gloomier-forecasts/

    Not my words.
    Ernst & Young says this forecast conflicts with that of the UK Treasury, which has based its own predictions for economic recovery on the housing market and consumer spending on the high street, rather than on exports.
  • FATBALLZ
    FATBALLZ Posts: 5,146 Forumite
    Thrugelmir wrote: »
    E&Y are basing their forecast on an export led recovery, whereas the Treasury is basing their's on housing and consumer spending. So the two significantly differ.

    Good to know the treasury are trying to build the important parts of the economy.
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    FATBALLZ wrote: »
    Good to know the treasury are trying to build the important parts of the economy.

    The Treasury forecast will be based on Labour's current spending plans.

    Shows how fragile the situation actually is.
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