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Europe --- In or Out


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Just now, ewerk said:

Avoiding a recession isn't exactly the mark you should be using for success.

 

It’s not, it’s just what the remainers told us would happen just for voting out.

 

Guess we were right to ignore the experts.

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11 minutes ago, ewerk said:

Then why have we got the slowest growth rate among the G7 countries? If it isn't Brexit then it must be the government's handling of the economy. Which is it?

 

You know what it is, I know what it is. Cmon, you’re the Irish Paxman, you’re better than this ;)

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Aberdeen Standard Investments Chief Economist Lucy O’Carroll comments:

“The Chancellor was always clear that today’s event was to be a modest one, and he kept that promise. But there is little to cheer by way of economic progress. A woeful growth outlook by past standards. Potentially massive dislocation for the economy just around the corner. And all subject to huge, Brexit-related uncertainties.

“Mr Hammond was keen to push a message about there being light at the end of the tunnel. It’s true that the country’s debt burden is about to fall. It’s also true that for the first time since the financial crisis the UK is borrowing only to invest, rather than to fund day-to-day spending.

“But the Chancellor has made it clear that we’ll remain in the tunnel for a while yet: there will be no fundamental reassessment of the UK’s spending needs until 2020. That will mean, in effect, a decade of austerity – unprecedented in the post-war period.

“Austerity has come at a cost, particularly for local authorities facing a dual squeeze from declining budgets and increasing social care costs. And if any of the impetus behind the Brexit vote was due to increasing pressures on public services, austerity may have given the UK a long-term economic legacy, too.

“The Chancellor is right to be cautious with the public finances, but the continued emphasis on austerity is more of a political choice than an economic imperative. At the very least, financial markets have not been particularly troubled by the UK’s debt position, with government borrowing costs remaining low by historic standards. Against this backdrop, loosening the purse strings to fund productivity-boosting investment makes sense. Today’s Spring Statement may quickly be forgotten, but we await the Autumn Budget with interest.”

 

no fucking shit

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Just now, Renton said:

CT didn't vote for a recession. He just voted for the worst economic growth of any advanced nation. :razz:

And, tbf, that's exactly what he got

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1 hour ago, Dr Gloom said:

 

project fear at it again. it's business as usual on the streets of boldon

It just goes to show the value of spin. Hammond made us out to be an economic powerhouse this morning. Don't think he mentioned the B word once. 

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If only there had been some kind of project, let's say, to inform people's fears about precisely this kind of thing.

 

It could have been called... oh I don't know...

 

 

 

  • Haha 1
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