It seems that on top of the clearly split party with its unelected leadership, inflation, sky high taxes, failing public services, and ridiculous energy prices the econony is predicted to tank even further.
Britain to be worst-performing major economy this year, warns IMF; UK mortgage approvals tumble as company insolvencies surge – business live
Introduction: IMF forecasts UK recession this year
Good morning, and welcome to our rolling coverage of business, the world economy and the financial markets.
Growth, or the lack of it, is the main issue today after the International Monetary Fund released its latest economic forecasts overnight ... and as we await eurozone GDP figures this morning.
The IMF's message for Britain was grim – the UK is the only advanced economy expected to fall into recession this year.
UK GDP is forecast to shrink by 0.6% this year, the worst forecast for any G7 country this year, which is a 0.9 percentage point downward revision from October's forecasts.
The IMF blamed the downgrade on tighter government spending policies and higher interest rates (which may be raised again on Thursday), and the burden from still-high energy retail prices on household budgets.
Pierre-Olivier Gourinchas, the IMF's economic counsellor, said 2023 would be "quite challenging" for the UK as it slipped from top to bottom of the G7 league table.
https://www.theguardian.com/business/live/2023/jan/31/uk-faces-2023-recession-warns-imf-brightening-world-economy-frances-growth-eurozone-business-live#:~:text=Business%20live-,Britain%20to%20be%20worst%2Dperforming%20major%20economy%20this%20year%2C%20warns,and%20increased%20taxes%20hit%20growth.
Tell me again why not voting for the shower that got us into this mess would make things worse.
But no mention of the £millions per day & all the extra medical facilities, being needed for the illegal (dinghy-boy) immigrants, contributing to the shit we're in
True that contributes to the mess but is really just like a piddle in a swimming pool. Despite record high tax levels....
Over half of households get more from state than they pay in tax
Some 36 million people – 54.2 per cent of all individuals – paid less tax than they received in benefits and 'benefits in kind'
https://www.telegraph.co.uk/news/2023/01/23/half-households-get-state-pay-tax/#:~:text=It%20means%20the%20top%20fifth,than%20they%20paid%20in%20tax.
It simply doesn't pay many to do any work. Wages have been pushed down by the amount of imported cheap labour.
Don't worry the Borris Brexit bus is on it's way
Brexit: Boris Johnson claims £350m on side of Vote Leave bus was actually 'a slight... - LBC (https://www.lbc.co.uk/news/brexit-boris-johnson-350-million-figure-side-vote-leave-bus-underestimate/)
remember this !!!!
Quote from: Diasi on January 31, 2023, 02:39:01 PMBut no mention of the £millions per day & all the extra medical facilities, being needed for the illegal (dinghy-boy) immigrants, contributing to the shit we're in
This is the only budget that money is not cut from, in fact every single new arrival puts the bill up more for us to pay.
I remain appalled at how our government knuckles under to these freebooters
Quote from: Michael Rolls on February 01, 2023, 05:42:39 PMI remain appalled at how our government knuckles under to these freebooters
Yes, people can go on strike, on the poverty line, use foodbanks and the government don't care, but everyday borderfarce go and escort these invaders to our shores and we foot the bill. I begrudge every single penny spent on them.
The army/navy should go out and shoot at them if necessary and turn them back before they get here, that's what would have happened if the German's had invaded us, these young men are an invading army.
totally agree -and getting angrier be the day
Quote from: klondike on January 31, 2023, 03:15:46 PMTrue that contributes to the mess but is really just like a piddle in a swimming pool. Despite record high tax levels....
Over half of households get more from state than they pay in tax
Some 36 million people – 54.2 per cent of all individuals – paid less tax than they received in benefits and 'benefits in kind'
https://www.telegraph.co.uk/news/2023/01/23/half-households-get-state-pay-tax/#:~:text=It%20means%20the%20top%20fifth,than%20they%20paid%20in%20tax.
It simply doesn't pay many to do any work. Wages have been pushed down by the amount of imported cheap labour.
That will include state pensioners, and unless we're paying more in income tax than we get in state pensions it applies. OH and I are nett beneficiaries, but when I think of the years we worked, and look at the tax paid in my kids' households I don't feel at all guilty. The only one of them not paying the higher tax rate is my daughter, who gets above the average pay for the NHS. She's not on strike, but its a poor do when a highly qualified and experienced person such as a matron earns less than an engine driver.
Don't forget rates, car tax, VAT along with duties on fuel and booze. HMG don't snarf it all before you see it.
That 10% pension rise has gone before we have even got it. The electric price guarantee will finish in April that took £70 off my bill, the £67 will be no more pushing my bill up to an estimated £170 a month, water is going up 7% or more, Council Tax rises, that's just for starters.