“Sick Man of Europe” UK Outperforming Eurozone Rivals

The IMF’s downgrade of its growth forecast for the UK economy this year is being seized upon to pursue the narrative that Brexit is hurting Britain while Eurozone economies grow. One Guardian headline says the UK has become “the sick man of Europe”. If you look past the headlines it’s a different story…

The UK is predicted to grow 1.7% in 2017, more than France (1.5%) and Italy (1.3%). Not sure how that makes Britain the sick man of Europe. Germany is forecast to grow 1.8%, just 0.1% more than Britain – which is forecast to be in the middle of the G7 performance table. The supposedly burgeoning Euro area has a 1.9% growth forecast, described as “solid” by the IMF. That is only 0.2% higher than the apparently disastrous UK. And the Eurozone is growing at its slowest pace in six months. Britain’s forecast for 2018 remains unchanged at 1.5% growth. Breathless pundits can calm down…

Today’s “downgrade” to 1.7% this year should be viewed in the context of the IMF’s referendum forecast of negative growth for 2017 in the event of a Brexit vote. The new numbers are of course a massive upgrade on their original prediction. It wasn’t just Brexit that exposed the IMF sham – in 2014 Christine Lagarde asked “Do I have to go on my knees” as she grovelled to the British government for her incorrect forecasts about austerity. No one should be taking IMF forecasts seriously any more…




Tip offs: 0709 284 0531
team@Order-order.com

Quote of the Day

Boris on Osborne and Project Fear:

Unemployment has fallen by 250,000 to a new low of 4.2 per cent while record numbers of jobs have been created – including no fewer than 8 for the former chancellor and chief architect of project fear who has become a glorious living rebuttal of his own preposterous warnings.”

Sponsors

Guidogram: Sign up

Subscribe to the most succinct 7 days a week daily email read by thousands of Westminster insiders.
Riot Convicted Bastani on “Public Nuisance” Riot Convicted Bastani on “Public Nuisance”
May Considers Asking to Stay in Single Market for Goods May Considers Asking to Stay in Single Market for Goods
Smith Must Hold Firm Against Grieve Smith Must Hold Firm Against Grieve
Eurotunnel: Don’t Buy Border Scaremongering Eurotunnel: Don’t Buy Border Scaremongering
Shouty Cracker Lord Moat’s Mask Slips Shouty Cracker Lord Moat’s Mask Slips
How Dominic Cummings Cost Taxpayers £20 Billion How Dominic Cummings Cost Taxpayers £20 Billion
Banks Legals Verhofstadt Over Putin Tweet Banks Legals Verhofstadt Over Putin Tweet
Hypocrisy of Chuka Hypocrisy of Chuka
Daily Brexit? Daily Brexit?
Farage vs Verhofstadt Farage vs Verhofstadt
WATCH: Andrea Jenkyns Takes on Remain Protesters WATCH: Andrea Jenkyns Takes on Remain Protesters
Philip Lee Resigns Philip Lee Resigns
Penka Saved Penka Saved
Guy News Special Report : Remain Campaign Cheating Guy News Special Report : Remain Campaign Cheating
No 10 Call DD Stupid No 10 Call DD Stupid
Government Remainers Mock DD for Crying Wolf Government Remainers Mock DD for Crying Wolf
How Brexiteers Lost Control of Brexit How Brexiteers Lost Control of Brexit
Corbyn Backs Free Movement Corbyn Backs Free Movement
Cadwalladr: ‘Unaware of Any Allegations of Cheating by Remain’ Cadwalladr: ‘Unaware of Any Allegations of Cheating by Remain’