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

Cam Can Sell Euroscepticism to Europe | Peter Oborne
Treasury’s Laws There to Be Broken | Jill Kirby
Dave’s Pro-Free Markets Speech | ASI
Forget the Nimbys, Bring on the Bimbys | ConHome
Emily is No Snob | Islington Tribune
Cam’s Red Line | Sun
Politicians Must Examine Their Extincts | Laura K
Immigration Lies | Nigel Farage
Take That Mr Speaker | Quentin Letts
How Avoidable Scandals Destroy Stupid Politicians | Alex Wickham
UKIP Mosque Confusion | The Week


Find out more about PLMR AD-MS


UKIP’s Patrick O’Flynn:

“I think Mail online comments are a telling indication of public opinion.”



Left on Left says:

The lefties are attacking because the panellist is a millionaire and lives in a London home worth upwards of two million. Someone had best tell them he’s called Ed Miliband.


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