Britain's recession is over! PS. We're still screwed
source: http://www.telegraph.co.uk/finance/financetopics/recession/7074635/British-economy-will-take...
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- richjm
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Britain's 18-month recession will be officially declared over today (Tuesday) but is it actually all good news?
It'll be announced that the economy has grown by 0.3%-0.4% but experts are worried that the news will be met by a rebound in spending, with the economy shrinking in the first quarter of this year. Basically, there's the risk we could slip back into recession like in 1991-92.
While homeowners, savers and stock market investors have been hit the hardest by the recession, it's good to note that that the food, drink and tobacco industries have done OK as people have consoled themselves, or drowned their sorrows, at home.
The main political parties will inevitably jump on the news. Labour is keen for voters to associate the economic recovery with the government's leadership through the crisis, while the Conservatives and the Lib Dems will blame Labour for not preventing us getting into trouble in the first place, and not getting us out of it sooner.
Both Gordon Brown and David Cameron accused each other's party of putting the struggling economy at risk at separate events yesterday. The Prime Minister said that the country could slide back into recession if a Conservative government prematurely withdrew the economic stimulus. David Cameron promised to hold an emergency Budget if the Tories win.
Annoyingly now VAT has gone back up and the recently ubiquitous sales are slowly dying down, that glass of champagne and chicken pasty you were planning on buying to celebrate are most likely back to full, rip-off price.
http://www.telegraph.co.uk/finance/financetopics/recession/7074635/British-econo...
Image: http://www.flickr.com/photos/derrynv/3079165767/
It'll be announced that the economy has grown by 0.3%-0.4% but experts are worried that the news will be met by a rebound in spending, with the economy shrinking in the first quarter of this year. Basically, there's the risk we could slip back into recession like in 1991-92.
While homeowners, savers and stock market investors have been hit the hardest by the recession, it's good to note that that the food, drink and tobacco industries have done OK as people have consoled themselves, or drowned their sorrows, at home.
The main political parties will inevitably jump on the news. Labour is keen for voters to associate the economic recovery with the government's leadership through the crisis, while the Conservatives and the Lib Dems will blame Labour for not preventing us getting into trouble in the first place, and not getting us out of it sooner.
Both Gordon Brown and David Cameron accused each other's party of putting the struggling economy at risk at separate events yesterday. The Prime Minister said that the country could slide back into recession if a Conservative government prematurely withdrew the economic stimulus. David Cameron promised to hold an emergency Budget if the Tories win.
Annoyingly now VAT has gone back up and the recently ubiquitous sales are slowly dying down, that glass of champagne and chicken pasty you were planning on buying to celebrate are most likely back to full, rip-off price.
http://www.telegraph.co.uk/finance/financetopics/recession/7074635/British-econo...
Image: http://www.flickr.com/photos/derrynv/3079165767/
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matlaroche
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mmmm chicken pasty!
- 3 years ago
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matlaroche
