UK economy set to grow faster than any other western economy

kabayiri

I'll take growth over a protracted period of no growth/deflation anyday.

If you think about it, we should be able to be more nimble and responsive than many of our Eurozone neighbours and win back or attract more business which would otherwise head their way. We can control our currency more easily.

It's time for the government to be a bit more bolshy and aggressive in supporting industry here. Get fracking. Get our industrial energy costs down. Cut the benefits bill to pay for this.

antrobus

Graham_Devon wrote: »

Debt is increasing. Not only a personal level, but also on a government level.

Without this debt, would things be soaring ahead?

Interesting.

Bank of England data on 'lending to individuals' for September 2013 shows unsecured consumer credit up 0.76% year-on-year and secured lending up 0.39%. So yes, debt is "increasing", but given that CPI is 2.7%, I wouldn't get that hot under the collar about the rate of increase.

chucky

kabayiri wrote: »

I'll take growth over a protracted period of no growth/deflation anyday.

So would most people.

Maybe they want inflation below 2% and no growth.

HAMISH_MCTAVISH

antrobus wrote: »

I
Bank of England data on 'lending to individuals' for September 2013 shows unsecured consumer credit up 0.76% year-on-year and secured lending up 0.39%.

So debt is reducing in real terms.

Not that it'll stop Dev moaning about it....

ILW

chucky wrote: »

So would most people.

Maybe they want inflation below 2% and no growth.

What about inflation below 2% and 3% growth. Inflation does not directly equate to real growth

Conrad

Graham_Devon wrote: »

The steady decline year on year of wages, equality and living conditions in the UK is certainly noticeable.

Growth per see as a causal factor in inequality is a non argument, it just so happens places like India with high growth of late on the back of grinding poverty happen not to spread the wealth well and just missed the whole Victorian style civic duty dynamic.


Of course good UK growth is a plus for the well being of the many.

As michales pointed out, increased demand for workers will do more for income than any Govt meddling in wages ever could.

Conrad

Graham_Devon wrote: »

Without this debt, would things be soaring ahead?

Perhaps not but in Govt you need to manage debt and growth over time and I think in future we can achieve a budget surplus, however the British infantile need for ever more entitlement to costly enquiries and everything else you could possibly dream up, mean it will be difficult indeed to live within means.

Under Mellor the NHS cost £40bn pa in todays money, now its £114 bn. This is what I mean by entitlement greed - the more we have the more we demand. Everyday on the news we're told spending must increase for 'x' - today for example calls for new burecracy to put all professionals on the line for reporting suspected abuse - now you all cry yes we must spend on this, but as I say there's something new every day.

One day we'll all grow up and realise we aren't entitled to quite so much.

antrobus

HAMISH_MCTAVISH wrote: »

So debt is reducing in real terms....

That would also be my conclusion.

ILW

Conrad wrote: »

Growth per see as a causal factor in inequality is a non argument, it just so happens places like India with high growth of late on the back of grinding poverty happen not to spread the wealth well and just missed the whole Victorian style civic duty dynamic.


Of course good UK growth is a plus for the well being of the many.

As michales pointed out, increased demand for workers will do more for income than any Govt meddling in wages ever could.

Not with open borders and huge parts of Europe running very high unemployment.

MFW_ASAP

Graham_Devon wrote: »

I asked whether growing faster than any other western economy was a good thing.

No, it's a really bad thing. We should be growing slower than any other Western economy. Slow and steady wins the race.

Graham_Devon wrote: »

The fastest growing economies seem to have the worst poverty, inequality and living conditions. Look at China, India. Look at the Dharavi slum in Mumbai.

Dear God, are you being serious here or just muddling for a response? Even my pre-teen daughter could tell you the difference between the Developing and Developed world. Do you seriously need to have it explained to you?

Seriously? :eek: