The Positive Brexit Thread

[ricardo 7,446]

29 minutes ago, Surfer said:

Ah GDP stats, if the UK economy has recently been performing the worst of any in the G7, it would also have more room for GDP growth ….(mathematically its denominator is smaller) 

And in similar reporting the IMF says the US economy, (despite already being larger than pre-pandemic - the UK certainly isn’t) will grow at 4% in 2022, about twice as much as is being claimed for the UK above. 

So let’s just say the case for the UK economy being the best in the G7 is not yet proven? 

Take it up with the IMF.

[Surfer 1,547]

21 minutes ago, ricardo said:

Take it up with the IMF.

Indeed we should. To be fair the IMF suggest UK GDP growth in 2022 will be 4.7%, compared to the revised US forecast of 4% but less than the original US 5% forecast, but you also have to take “growth” in the context of “existing” activity.

So some information that puts UK GDP growth into context - see the first chart of this article 

https://www.brookings.edu/blog/up-front/2021/12/08/a-most-unusual-recovery-how-the-us-rebound-from-covid-differs-from-rest-of-g7/amp/

 

https://www.imf.org/en/Countries/GBR

https://www.imf.org/en/Countries/USA

[Yellow Fever 3,852]

1 hour ago, Surfer said:

Ah GDP stats, if the UK economy has recently been performing the worst of any in the G7, it would also have more room for GDP growth ….(mathematically its denominator is smaller) 

And in similar reporting the IMF says the US economy, (despite already being larger than pre-pandemic - the UK certainly isn’t) will grow at 4% in 2022, about twice as much as is being claimed for the UK above. 

So let’s just say the case for the UK economy being the best in the G7 is not yet proven? 

Unfortunately Surfer nobody quotes cumulative growth i.e. what £100 invested say in 2016 would have returned.

A 10% decline followed by a 10% rise doesn't get you back to where you stated (you would need a 11.11% rise for that).

Instead we get these figures which are misused and misunderstood by our dumb politicians for an even dumber audience. No wonder China (and dare I say Putin) are laughing at the 'West'. A bit of 'social media' for the 'echo' chambers and they go 'pop'.

[Surfer 1,547]

That’s for sure. And if you read that report - or even just look at the embedded charts (UK is pink line in first chart and yellow line in the others) it’s a damning indictment of this government’s mis-management of the economy. 

Worst economic contraction, lowest consumer consumption, highest government expenditure, collapsing trade - but hey “our growth is the best” blah blah.

Edited January 26, 2022 by Surfer

[Herman 9,865]

2 hours ago, ricardo said:

IMF Report

The International Monetary Fund (IMF) revealed on Tuesday that growth for 2022 has been cut to 4.7%, down from a previous 5%.

“In the United Kingdom, disruptions related to Omicron and supply constraints — particularly in labour and energy markets — mean that growth is revised down,” the IMF said.

Despite the decline, Britain is set to be the fastest growing economy in the G7 industrialised nations for a second consecutive year. This means the UK is anticipated to grow faster than the US, Japan, Germany, France, Italy and Canada.

The Washington-based group also expects UK gross domestic product (GDP) to come in at 2.3% in 2023, ahead of the 1.9% prediction made in October.

https://uk.finance.yahoo.com/news/imf-outlook-uk-economic-growth-cut-amid-rising-inflation-and-omicron-threat-151902617.html

They are predictions where I was quoting the numbers from recently. Johnson is being economical with the truth unless he has a different set of numbers.

 

[ricardo 7,446]

5 minutes ago, Herman said:

They are predictions where I was quoting the numbers from recently. Johnson is being economical with the truth unless he has a different set of numbers.

 

Read the tweet.

"comparing second and third quarters of 2021"

and compare it with what the IMF said

Britain is set to be the fastest growing economy in the G7 industrialised nations for a second consecutive year.

 

Edited January 26, 2022 by ricardo

[Herman 9,865]

Isn't that a bit like saying Norwich are set to win the second half of the season?

[ricardo 7,446]

7 minutes ago, Herman said:

Isn't that a bit like saying Norwich are set to win the second half of the season?

Only the terminally insane would suggest such a thing😉

 

Regarding the difference between various quarters, this is inevitable baring in mind the that different countries shut down at different times so it is impossible to make meaningful comparison.

In a way its similar to your football analogy where looking at the last six games tells you nothing about the entire season.

[Herman 9,865]

I'm not the one saying it to every bloody question in PMQs.

[Van wink 2,994]

[BigFish 1,990]

1 hour ago, ricardo said:

Read the tweet.

"comparing second and third quarters of 2021"

and compare it with what the IMF said

Britain is set to be the fastest growing economy in the G7 industrialised nations for a second consecutive year.

 

Interesting use of the word "growth", when all it is a return to where we were a couple of years ago, slower than our competitors, so not really growth at all.

And what does this "growth" consist of, as it includes health outcomes e.g. unusable PPE including fraud, the useless track and trace system, the admittedly successful vaccine roll-out, largely all increased government spending funded by borrowing eye-watering amounts of cash rather than economic success.

Well done

[ricardo 7,446]

6 minutes ago, BigFish said:

Interesting use of the word "growth", when all it is a return to where we were a couple of years ago, slower than our competitors, so not really growth at all.

And what does this "growth" consist of, as it includes health outcomes e.g. unusable PPE including fraud, the useless track and trace system, the admittedly successful vaccine roll-out, largely all increased government spending funded by borrowing eye-watering amounts of cash rather than economic success.

Well done

Quid at five year high v Euro this morning I see.😉

[PurpleCanary 5,606]

I cannot for the life of me guess what might have prompted a catastrophic fall of the pound against the euro five or so years ago that reduced the rate to very nearly parity. A total mystery.🤓

[ricardo 7,446]

11 minutes ago, PurpleCanary said:

I cannot for the life of me guess what might have prompted a catastrophic fall of the pound against the euro five or so years ago that reduced the rate to very nearly parity. A total mystery.🤓

Perhaps it was due to cake and wine in the garden.🍾🎂

[SwindonCanary 455]

Just shows how the EU are behaving 

 

[Well b back 3,310]

1 hour ago, SwindonCanary said:

Just shows how the EU are behaving 

 

If he moves his lips it will be a lie.

[BigFish 1,990]

 

[SwindonCanary 455]

Snippets from the EU 'europa' website:

"Is there any fraud? In fact, fraud affects approximately  8% of the total EU budget".

[Yellow Fever 3,852]

13 minutes ago, SwindonCanary said:

Snippets from the EU 'europa' website:

"Is there any fraud? In fact, fraud affects approximately  8% of the total EU budget".

Unfortunately fraud is everywhere.

Where do you want to start withy the UK - the billions that caused Agnew to resign perhaps?

Or perhaps benefit fraud ?

Then there are the agricultural payments frauds... 

Daft as a brush.

 

Edited January 27, 2022 by Yellow Fever
The biggest 'fraud' was of course the Brexiteer lies themselves.

[SwindonCanary 455]

8% ?

[A Load of Squit 5,247]

1 hour ago, Yellow Fever said:

Unfortunately fraud is everywhere.

Where do you want to start withy the UK - the billions that caused Agnew to resign perhaps?

Or perhaps benefit fraud ?

Then there are the agricultural payments frauds... 

Daft as a brush.

 

The important thing to note is that unlike Britain the EU investigates these breaches and recovers the money.

You only have to ask Nigel Farage, he'll be able to confirm it. 😀

Edited January 27, 2022 by A Load of Squit

[BigFish 1,990]

Good job we have got rid of all those unelected bureaucrats telling us what to do......

 

[SwindonCanary 455]

8% ? The EU always lose money 

Sinn Féin MLA Declan Kearney has said it will result in a net loss for northern Executive totalling almost £100 million per year.  

Edited January 27, 2022 by SwindonCanary

[Herman 9,865]

3 hours ago, Yellow Fever said:

Unfortunately fraud is everywhere.

Where do you want to start withy the UK - the billions that caused Agnew to resign perhaps?

Or perhaps benefit fraud ?

Then there are the agricultural payments frauds... 

Daft as a brush.

 

They never get upset about the blatant fraud and corruption going on right now on their own doorstep in front of their faces. It's something I'm not unique in being baffled by. There must be some psychological reasons why. 

[Creative Midfielder 2,004]

47 minutes ago, Herman said:

They never get upset about the blatant fraud and corruption going on right now on their own doorstep in front of their faces. It's something I'm not unique in being baffled by. There must be some psychological reasons why. 

It is a bit weird - of course the idea that the Tory party is the party of 'law and order' and 'economic prudence' has always been a myth but I always had the impression that it was a myth that was very close to the hearts of most Tory MPs and indeed many of them actually believed in it even though the rest of us always knew it was all spin and no substance.

But the current miserable specimens of Tory MPs don't seem remotely interested in either law & order or economic prudence and of course they've never been interested in the environment/climate change which is all pretty odd really given that I reckon those will be three major issues in the next GE.

The path to replacing this malign government in a couple of years time is certainly starting to look more straightforward than it seemed a few months ago. 😀

[A Load of Squit 5,247]

Here's a reminder.

When mentioning how bad the deal with Australia is for Britain don't forget to mention that it also cost us £500k for Liz Truss to fly over there.

 

[ricardo 7,446]

27 minutes ago, A Load of Squit said:

Here's a reminder.

When mentioning how bad the deal with Australia is for Britain don't forget to mention that it also cost us £500k for Liz Truss to fly over there.

 

One of Mrs R's ancestors went to Australia for free.

Mind you, it was 180 years ago and only one way.

Probably carbon neutral as well now I come to think of it.

Edited January 27, 2022 by ricardo

[Surfer 1,547]

Back to the subject ... two charts. Irrefutable evidence that Brexit is the cause of the UK's economic woes.

Everyone else has also had Covid, only the UK has imposed Brexit restrictions on itself. 

[keelansgrandad 6,679]

1 hour ago, ricardo said:

One of Mrs R's ancestors went to Australia for free.

Mind you, it was 180 years ago and only one way.

Probably carbon neutral as well now I come to think of it.

Did she manage to wave him off

[SwindonCanary 455]

U.K.’s higher education sector outperforms most of world, new surveys determine

By European News Correspondent Stephen Bailey

The Times Higher Education, Quacquarelli Symonds, Shanghai Ranking Consultancy and U.S. News and World Report recently carried out extensive and authoritative surveys of the 2022 university rankings, producing four world rankings tables. The survey covered institutions of higher education from across the globe and found that institutions from the U.K. remain the main challengers to the U.S....

U.K. universities also massively outperform virtually all E.U./ other European universities/ institutes of higher education.