UK growth since 2010 has been lacklustre and largely driven by immigration, says report
Since 2019, the UK has strengthened its position as the world’s second-biggest exporter of services after the US, the report says. But “far less welcome” has been its “weak performance on goods trade” with 57% of manufacturing businesses “still wrestling with the additional paperwork, customs duties and border checks which have increased exporting challenges post-Brexit.”
Sunak has been claiming that the UK’s return to growth in the first quarter of 2024 means the economy is “going gangbusters”, in an attempt to boost the Tories’ election chances.
The Resolution Foundation report puts Sunak’s claim into context: “A single quarter of growth doesn’t tell the whole story, however – what matters is the big picture of how the economy has been performing since 2010, where the picture remains one of stagnation since the financial crisis. In this context what ultimately matters for household living standards is not GDP growth but growth in productivity… On this measure, the 0.4% annual growth rate in productivity since 2007 is the lowest over an equivalent period in 200 years, and this has left the average real wage £14,400 below its pre-financial crisis trend.”
UK growth since 2010 has been lacklustre and largely driven by immigration, says report
Since 2019, the UK has strengthened its position as the world’s second-biggest exporter of services after the US, the report says. But “far less welcome” has been its “weak performance on goods trade” with 57% of manufacturing businesses “still wrestling with the additional paperwork, customs duties and border checks which have increased exporting challenges post-Brexit.”
Sunak has been claiming that the UK’s return to growth in the first quarter of 2024 means the economy is “going gangbusters”, in an attempt to boost the Tories’ election chances.
The Resolution Foundation report puts Sunak’s claim into context: “A single quarter of growth doesn’t tell the whole story, however – what matters is the big picture of how the economy has been performing since 2010, where the picture remains one of stagnation since the financial crisis. In this context what ultimately matters for household living standards is not GDP growth but growth in productivity… On this measure, the 0.4% annual growth rate in productivity since 2007 is the lowest over an equivalent period in 200 years, and this has left the average real wage £14,400 below its pre-financial crisis trend.”
This is a good example of why statistics need to be put into context.
As a country we seem obsessed with just 2 sets of statistics. The last 3/12 months. And comparing that to the preceding 3/12 months. Which, as this report points out, is far from the whole picture.
Another good example is inflation. It has been about 2% a year for 20-25 years. Then, about 2 years ago, inflation started going up massively. Not just here-around the developed world. Then it went back down to just over previous levels-not just here-around the developed world.
We haven't "conquered" inflation. There were 2 very bad years, which were largely not the fault of this Govt. And then it went back to normal, which was largely not anything the Govt did right. Yet the "statistics" show just a reduction in the rate of inflation compared to last year.
UK growth since 2010 has been lacklustre and largely driven by immigration, says report
Since 2019, the UK has strengthened its position as the world’s second-biggest exporter of services after the US, the report says. But “far less welcome” has been its “weak performance on goods trade” with 57% of manufacturing businesses “still wrestling with the additional paperwork, customs duties and border checks which have increased exporting challenges post-Brexit.”
Sunak has been claiming that the UK’s return to growth in the first quarter of 2024 means the economy is “going gangbusters”, in an attempt to boost the Tories’ election chances.
The Resolution Foundation report puts Sunak’s claim into context: “A single quarter of growth doesn’t tell the whole story, however – what matters is the big picture of how the economy has been performing since 2010, where the picture remains one of stagnation since the financial crisis. In this context what ultimately matters for household living standards is not GDP growth but growth in productivity… On this measure, the 0.4% annual growth rate in productivity since 2007 is the lowest over an equivalent period in 200 years, and this has left the average real wage £14,400 below its pre-financial crisis trend.”
This is a good example of why statistics need to be put into context.
As a country we seem obsessed with just 2 sets of statistics. The last 3/12 months. And comparing that to the preceding 3/12 months. Which, as this report points out, is far from the whole picture.
Another good example is inflation. It has been about 2% a year for 20-25 years. Then, about 2 years ago, inflation started going up massively. Not just here-around the developed world. Then it went back down to just over previous levels-not just here-around the developed world.
We haven't "conquered" inflation. There were 2 very bad years, which were largely not the fault of this Govt. And then it went back to normal, which was largely not anything the Govt did right. Yet the "statistics" show just a reduction in the rate of inflation compared to last year.
This ties in to your post on the other thread.
Maybe it would be in the interest of a new government to create a new disaster immediately after being elected. They could spend the rest of their term on improving the situation. Culminating at the next general election, in time to get reelected.
UK growth since 2010 has been lacklustre and largely driven by immigration, says report
Since 2019, the UK has strengthened its position as the world’s second-biggest exporter of services after the US, the report says. But “far less welcome” has been its “weak performance on goods trade” with 57% of manufacturing businesses “still wrestling with the additional paperwork, customs duties and border checks which have increased exporting challenges post-Brexit.”
Sunak has been claiming that the UK’s return to growth in the first quarter of 2024 means the economy is “going gangbusters”, in an attempt to boost the Tories’ election chances.
The Resolution Foundation report puts Sunak’s claim into context: “A single quarter of growth doesn’t tell the whole story, however – what matters is the big picture of how the economy has been performing since 2010, where the picture remains one of stagnation since the financial crisis. In this context what ultimately matters for household living standards is not GDP growth but growth in productivity… On this measure, the 0.4% annual growth rate in productivity since 2007 is the lowest over an equivalent period in 200 years, and this has left the average real wage £14,400 below its pre-financial crisis trend.”
This is a good example of why statistics need to be put into context.
As a country we seem obsessed with just 2 sets of statistics. The last 3/12 months. And comparing that to the preceding 3/12 months. Which, as this report points out, is far from the whole picture.
Another good example is inflation. It has been about 2% a year for 20-25 years. Then, about 2 years ago, inflation started going up massively. Not just here-around the developed world. Then it went back down to just over previous levels-not just here-around the developed world.
We haven't "conquered" inflation. There were 2 very bad years, which were largely not the fault of this Govt. And then it went back to normal, which was largely not anything the Govt did right. Yet the "statistics" show just a reduction in the rate of inflation compared to last year.
This ties in to your post on the other thread.
Maybe it would be in the interest of a new government to create a new disaster immediately after being elected. They could spend the rest of their term on improving the situation. Culminating at the next general election, in time to get reelected.
There is a long, and rather sad, tradition that the new Govt blames the mess left by the last lot.
1 good thing about the Labour Party at the moment is that they are being up front about this before the election. Rather than after.
Makes a welcome change to have a prospective new Govt who are not promising the world, only to "find out" later that they couldn't carry out manifesto pledges because they were unaware how bad things were, blah blah.
I would hope that is just because Starmer is rather more honest than most. Whereas I suspect it is at least partly due to the fact that he doesn't need to make promises he cannot keep in order to win the election.
UK growth since 2010 has been lacklustre and largely driven by immigration, says report
Since 2019, the UK has strengthened its position as the world’s second-biggest exporter of services after the US, the report says. But “far less welcome” has been its “weak performance on goods trade” with 57% of manufacturing businesses “still wrestling with the additional paperwork, customs duties and border checks which have increased exporting challenges post-Brexit.”
Sunak has been claiming that the UK’s return to growth in the first quarter of 2024 means the economy is “going gangbusters”, in an attempt to boost the Tories’ election chances.
The Resolution Foundation report puts Sunak’s claim into context: “A single quarter of growth doesn’t tell the whole story, however – what matters is the big picture of how the economy has been performing since 2010, where the picture remains one of stagnation since the financial crisis. In this context what ultimately matters for household living standards is not GDP growth but growth in productivity… On this measure, the 0.4% annual growth rate in productivity since 2007 is the lowest over an equivalent period in 200 years, and this has left the average real wage £14,400 below its pre-financial crisis trend.”
This is a good example of why statistics need to be put into context.
As a country we seem obsessed with just 2 sets of statistics. The last 3/12 months. And comparing that to the preceding 3/12 months. Which, as this report points out, is far from the whole picture.
Another good example is inflation. It has been about 2% a year for 20-25 years. Then, about 2 years ago, inflation started going up massively. Not just here-around the developed world. Then it went back down to just over previous levels-not just here-around the developed world.
We haven't "conquered" inflation. There were 2 very bad years, which were largely not the fault of this Govt. And then it went back to normal, which was largely not anything the Govt did right. Yet the "statistics" show just a reduction in the rate of inflation compared to last year.
This ties in to your post on the other thread.
Maybe it would be in the interest of a new government to create a new disaster immediately after being elected. They could spend the rest of their term on improving the situation. Culminating at the next general election, in time to get reelected.
There is a long, and rather sad, tradition that the new Govt blames the mess left by the last lot.
1 good thing about the Labour Party at the moment is that they are being up front about this before the election. Rather than after.
Makes a welcome change to have a prospective new Govt who are not promising the world, only to "find out" later that they couldn't carry out manifesto pledges because they were unaware how bad things were, blah blah.
I would hope that is just because Starmer is rather more honest than most. Whereas I suspect it is at least partly due to the fact that he doesn't need to make promises he cannot keep in order to win the election.
Paul Johnson was on Trevor Phillips this morning. He said that he wished that both parties would stop ruling stuff out, as they may be digging a hole. He also said that there is a conspiracy of silence regarding what the new government will inherit. Neither of them want to talk about the scale of the challenge facing them. Both parties have ruled out tax increases, but a further 3 years of freezing income tax thresholds means an £11billion increase.
They could say anything on their manifesto, they will never win enough votes to make a difference to anything.
You can promise the world when you're never going to be in a position to deliver.
I dont even know why they produce a manifesto. Or why anyone is interested in it.
I suppose it will depend on how accurate the polls are. There has been talk of them getting around 50 seats, and Labour having to form a coalition with them. In which case they may be able to exert some pressure on Labour. Keir Starmer was quite a staunch remainer, in favour of a second referendum, and has spoken of a closer relationship with the EU, fairly recently. It may also not do Labour any harm, to have someone else to blame for any closer ties.
The Lib Dems are calling for just Single Market membership, but are in favour of rejoining at some point in the future. I am not sure that this goes far enough. We would also have to join the Customs Union to remove the Irish Sea Border. SM membership would mean freedom of movement.
Although looking at what has happened with immigration since we left, I am sure that many people will now see FoM, as preferable to our current immigration policy.
It is incredible that Brexit has hardly been mentioned in the campaign.
There it is in a nutshell. 720 M.E.P. who have no say in making legislation.
Unelected Commission who hold the power and make the legislation.
Unelected and unaccountable, except to their own paymasters, and yet people seem to be on board with that idea.
Strange then that in other parts of the world unelected people making all the rules are referred to as dictatorships or regimes, whilst all the time coming under pressure to allow democracy.
Ursula and Co can keep putting the telescope to the blind eye and saying I see no ships but nationalism is not going away any time soon. UK, France, Germany, Netherlands, Sweden, Italy, Spain and Poland all have a growing undercurrent of nationalism and the continual ignorance of the EU to this won't help.
Nationalism is not one of those things that if you ignore it, it goes away. On the contrary, if you ignore it, it grows and feeds and sustains itself.
The only question for the EU is will it find the reforms it needs to appeal to a broader church or will it continue to self serve, as the cracks widen, to the point where the entire edifice becomes dangerously unstable.
I wonder how, if after July 4th the winning party were not allowed to make legislation but had to defer to some unelected body, the British electorate would react.
I'm guessing, not well. Still if it was good enough whilst we were in the EU eh?
Unelected Commission who hold the power and make the legislation.
I am still smiling. Have another read, or watch the video that lasts about one minute. https://www.europarl.europa.eu/topics/en/article/20231212STO15844/how-are-the-members-of-the-european-commission-elected-video Comprised of 27 Commissioners - one from each EU country - the Commission proposes legislation, which is then sent to Parliament and the Council to be scrutinised, amended, negotiated and approved. But how exactly are the Commission and its president chosen and what is Parliament's role? Find out in our short video.
Unelected and unaccountable, except to their own paymasters, and yet people seem to be on board with that idea.
Do you live in the UK? How many of our 650 MPs have any say in making legislation? When was the last PM elected by more than just over 300 people? Who elects The Cabinet? Who do you think decides on legislation that is put forward in the UK?
Strange then that in other parts of the world unelected people making all the rules are referred to as dictatorships or regimes, whilst all the time coming under pressure to allow democracy.
If you do read the above, you will probably want to retract this. I live in a democracy. Yet for my whole voting life my vote has been pointless. A Labour MP has been returned at every election, in the constituency where I live. So no matter what I thought we were getting a Labour MP. There are fairer forms of democracy available, like proportional representation, but we will never switch from first past the post, irrespective of the number of the electorate that are in favour. We could switch to a system where every vote really did count. Wouldnt that be proper democracy?
Ursula and Co can keep putting the telescope to the blind eye and saying I see no ships but nationalism is not going away any time soon. UK, France, Germany, Netherlands, Sweden, Italy, Spain and Poland all have a growing undercurrent of nationalism and the continual ignorance of the EU to this won't help.
I am not sure what you think that she can do about this. These results are produced by the elections in each of the 27 member countries. So the democracy that you say doesnt exist produces these results. They are expecting around 25% of the seats to go to the far right. How many seats in the HoC, are filled by far right or extreme left MPs? How do you think the EU can influence elections in each member country?
Nationalism is not one of those things that if you ignore it, it goes away. On the contrary, if you ignore it, it grows and feeds and sustains itself.
Nigel Farage, and Reform.
The only question for the EU is will it find the reforms it needs to appeal to a broader church or will it continue to self serve, as the cracks widen, to the point where the entire edifice becomes dangerously unstable.
Do you think this responsibility falls upon the EU, or the government of each member country?
I wonder how, if after July 4th the winning party were not allowed to make legislation but had to defer to some unelected body, the British electorate would react.
You mean like in 2010, when the Tories had to rely on the Lib Dems, or 2017 when they had to rely on the DUP.
I'm guessing, not well. Still if it was good enough whilst we were in the EU eh?
Comments
https://www.msn.com/en-gb/news/uknews/i-m-a-trade-expert-here-s-why-rishi-sunak-and-keir-starmer-won-t-discuss-brexit/ar-BB1nOo72?ocid=msedgntp&pc=NMTS&cvid=13a54bd4b63349bdba9d7c81cbb77374&ei=91#fullscreen
https://uk.yahoo.com/news/snp-accused-unforgivable-waste-eu-165849421.html
Nigel Farage Responds to Criticism Over Anti-Muslim Claims
Were Nigel Farage’s Comments About Muslims Racist, or Absolutely Spot On?
https://www.msn.com/en-gb/news/uknews/labour-official-reveals-party-s-goal-is-to-restore-freedom-of-movement/ar-BB1nSir8?ocid=msedgntp&pc=NMTS&cvid=9730d47e38cd4f27bfb81f5bed1906bf&ei=53#image=13
https://www.msn.com/en-gb/money/other/20-ways-brexit-has-altered-your-uk-retirement-plans/ss-BB1nOhwm?ocid=msedgntp&pc=NMTS&cvid=71c32e954c224493b2b4b64eb895ab34&ei=118#image=1
Since 2019, the UK has strengthened its position as the world’s second-biggest exporter of services after the US, the report says. But “far less welcome” has been its “weak performance on goods trade” with 57% of manufacturing businesses “still wrestling with the additional paperwork, customs duties and border checks which have increased exporting challenges post-Brexit.”
Sunak has been claiming that the UK’s return to growth in the first quarter of 2024 means the economy is “going gangbusters”, in an attempt to boost the Tories’ election chances.
The Resolution Foundation report puts Sunak’s claim into context: “A single quarter of growth doesn’t tell the whole story, however – what matters is the big picture of how the economy has been performing since 2010, where the picture remains one of stagnation since the financial crisis. In this context what ultimately matters for household living standards is not GDP growth but growth in productivity… On this measure, the 0.4% annual growth rate in productivity since 2007 is the lowest over an equivalent period in 200 years, and this has left the average real wage £14,400 below its pre-financial crisis trend.”
https://www.msn.com/en-gb/money/other/uk-growth-since-2010-has-been-lacklustre-and-largely-driven-by-immigration-says-report/ar-BB1nSnNG?ocid=msedgntp&pc=NMTS&cvid=71c32e954c224493b2b4b64eb895ab34&ei=129#fullscreen
I said it was b0ll0x.
You said you hadn't read it when you posted it. And, now you had, you agreed it was b0ll0x.
So-why post it again?
I am going to need legal advice before answering your question.
As a country we seem obsessed with just 2 sets of statistics. The last 3/12 months. And comparing that to the preceding 3/12 months. Which, as this report points out, is far from the whole picture.
Another good example is inflation. It has been about 2% a year for 20-25 years. Then, about 2 years ago, inflation started going up massively. Not just here-around the developed world. Then it went back down to just over previous levels-not just here-around the developed world.
We haven't "conquered" inflation. There were 2 very bad years, which were largely not the fault of this Govt. And then it went back to normal, which was largely not anything the Govt did right. Yet the "statistics" show just a reduction in the rate of inflation compared to last year.
Maybe it would be in the interest of a new government to create a new disaster immediately after being elected.
They could spend the rest of their term on improving the situation.
Culminating at the next general election, in time to get reelected.
1 good thing about the Labour Party at the moment is that they are being up front about this before the election. Rather than after.
Makes a welcome change to have a prospective new Govt who are not promising the world, only to "find out" later that they couldn't carry out manifesto pledges because they were unaware how bad things were, blah blah.
I would hope that is just because Starmer is rather more honest than most. Whereas I suspect it is at least partly due to the fact that he doesn't need to make promises he cannot keep in order to win the election.
He said that he wished that both parties would stop ruling stuff out, as they may be digging a hole.
He also said that there is a conspiracy of silence regarding what the new government will inherit.
Neither of them want to talk about the scale of the challenge facing them.
Both parties have ruled out tax increases, but a further 3 years of freezing income tax thresholds means an £11billion increase.
https://www.msn.com/en-gb/money/other/eu-seeks-warmer-ties-with-uk-government-if-labour-wins-election/ss-BB1nU06V?ocid=msedgntp&pc=NMTS&cvid=fd6447fe0e2e4a3f9eee77c24614b2ca&ei=31#image=2
https://www.msn.com/en-gb/news/uknews/lib-dem-manifesto-pledges-to-take-uk-back-into-eu-single-market/ar-BB1nWXDV?ocid=msedgntp&pc=NMTS&cvid=6992c5d7b16446d383f2e2905e823af7&ei=25#
You can promise the world when you're never going to be in a position to deliver.
Or why anyone is interested in it.
I suppose it will depend on how accurate the polls are.
There has been talk of them getting around 50 seats, and Labour having to form a coalition with them.
In which case they may be able to exert some pressure on Labour.
Keir Starmer was quite a staunch remainer, in favour of a second referendum, and has spoken of a closer relationship with the EU, fairly recently.
It may also not do Labour any harm, to have someone else to blame for any closer ties.
The Lib Dems are calling for just Single Market membership, but are in favour of rejoining at some point in the future.
I am not sure that this goes far enough.
We would also have to join the Customs Union to remove the Irish Sea Border.
SM membership would mean freedom of movement.
Although looking at what has happened with immigration since we left, I am sure that many people will now see FoM, as preferable to our current immigration policy.
It is incredible that Brexit has hardly been mentioned in the campaign.
https://www.msn.com/en-gb/news/other/european-elections-do-not-signal-the-demise-of-the-eu-or-a-rise-in-fascism-everything-has-changed-says-james-woudhuysen/ar-BB1o1svs?ocid=msedgntp&pc=NMTS&cvid=364879fd76584f84ad275aabc5376eaf&ei=111#fullscreen
Unelected Commission who hold the power and make the legislation.
Unelected and unaccountable, except to their own paymasters, and yet people seem to be on board with that idea.
Strange then that in other parts of the world unelected people making all the rules are referred to as dictatorships or regimes, whilst all the time coming under pressure to allow democracy.
Ursula and Co can keep putting the telescope to the blind eye and saying I see no ships but nationalism is not going away any time soon. UK, France, Germany, Netherlands, Sweden, Italy, Spain and Poland all have a growing undercurrent of nationalism and the continual ignorance of the EU to this won't help.
Nationalism is not one of those things that if you ignore it, it goes away. On the contrary, if you ignore it, it grows and feeds and sustains itself.
The only question for the EU is will it find the reforms it needs to appeal to a broader church or will it continue to self serve, as the cracks widen, to the point where the entire edifice becomes dangerously unstable.
I wonder how, if after July 4th the winning party were not allowed to make legislation but had to defer to some unelected body, the British electorate would react.
I'm guessing, not well. Still if it was good enough whilst we were in the EU eh?