petej + gdp   93

Brexit proved our economy is broken, but our leaders still have no clue how to fix it | Aditya Chakrabortty | Opinion | The Guardian
It ultimately comes down to this: decades of privatisation, hammering unions and chucking billions at the housing market while stripping the welfare state has effectively ended any semblance of a national, redistributive economy in which a child born in Sunderland can expect to have similar life chances to one born in Surrey. Yet politicians remain fixated on mechanisms that no longer work adequately for those who actually depend on the economy. They obsess over GDP growth when the benefits of that are unequally shared between classes and regions. They boast about job creation when wages are still on the floor.
UK  economy  inequality  Brexit  CoetzeeRyan  OsborneGeorge  HammondPhilip  DuncanSmithIain  deindustrialisation  unemployment  privatisation  cuts  GDP  LegatumInstitute  dctagged  dc:creator=ChakraborttyAditya 
9 weeks ago by petej
Britain is booming? | Michael Roberts Blog
"The UK economy is growing faster in GDP terms, but average real incomes are not rising because those in employment and self-employment are, on average, still unable to increase their incomes sufficiently to cover inflation and taxes. Investment by the capitalist sector is not recovering and British businesses are failing to raise their share in world export markets (graph below).

So the expansion of UK economic activity is driven by a credit-fuelled and government-sponsored property boom. That cannot be sustainable. But it may be long enough until next May’s general election."
UK  economy  growth  GDP  manufacturing  recession  recovery  productivity  statistics  dctagged  dc:creator=RobertsMichael 
may 2014 by petej
Office for Budget Responsibility » Forecast performance
tl;dr version: "Our forecasts are wildly over-optimistic flights of fancy, and basing actual policy on them is preposterous"
OBR  statistics  UK  economy  growth  GDP  forecasts  predictions  accuracy  errors 
february 2013 by petej
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