Sunday, January 29, 2012

Zero GDP Growth Has Zero To Do With €urozone

Last week’s shrinking GDP figures were spun by George Osborne as due to the crisis in the €urozone. The decline in GDP could hardly be blamed on the US market which is picking up and growing at a respectable 2.8% last quarter, nor on Asian markets where China grew at an annualised 8.9% and India at 7.8%.

Is the decline in UK GDP really, as George Osborne implies, down to economic trade with the crisis ridden continent falling? The answer is no.

UK exports to €urozone states actually rose a healthy 11.3% last year:

It is a myth that the decline in GDP has anything to do with the €uro-crisis leading to a decline in exports to the €urozone. The barriers to growth are a domestic problem… 


Seen Elsewhere

Longlist to Succeed Hague | ConHome
Newmark Nonsense An Excuse to Bash Tabloids | Spiked
Kay Burley’s Top Twitter Zingers | Buzzfeed
Why Tory Tax Cut Pledge is Good News | Allister Heath
ONS Admits Economy Stronger Than It Thought | Speccie
Cameron’s Concessions to UKIP | Nick Wood
#TM4PM: It’s On | Speccie
Path to Defeat Obvious for Both Labour and Tories | Rafael Behr
It’s Boris v May | Sun
Farage is Outflanking the Tories | Guardian
Boris is Right About Grammar Schools | Conservative Women


VOTER-RECALL
Find out more about PLMR


David Cameron on political promiscuity…

“On May 7 you could go to bed with Nigel Farage and wake up with Ed Miliband. Not one bit of that works for me.”



cynic says:

Can anyone help me? I went on holiday a week ago and returned to find someone has pulled out the stake and Gordon Brown is back and acting as Prime Minister. What did I miss? Has there been a snap election?


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