Post by Totheleft on Feb 3, 2024 10:18:37 GMT
What I find depressing is the complete lack of honesty from all sides. Look at the OP, no mention of the dire situation the Tories inherited, no mention that EU policy forced its members to adopt austerity, no mention of covid / Ukraine
no mention of the dire situation the Tories inherited,
Let's look at the situation after 14yrs
Of Tory Rule.
Inflation from 20q9
Inflation is currently 1.9% (Dec 09) – just below the government’s target of 2%.
Inflation. Since 2010
Under tory rule
Between September 2022 and March 2023, the UK experienced seven months of double-digit inflation, which peaked at 11.1 percent in October 2022.
Intrest rate Since 2010
2010s the highest interest rate was 0.75%
2024
5.25
GDP
At the height of the recession, GDP fell by 2.6% in a single quarter (Q1 2009)
monthly decline of 0.5% in December.
Wages
The figures show that, between 2000 and 2005, real weekly earnings rose by about 15% amid a buoyant economy. They then increased more slowly, by 5%, in the run-up to the 2008 financial crisis.
Tory Government
, the TUC’s research shows that UK real wages fell by 3.0% in 2022, the worst annual decline for 50 years.
Food inflation
high of 19.2% in March 2023, which was the highest annual rate seen for over 45 years.
Gas&Electric inflation
The countries with the highest electricity prices
Rank Country Price – pence per kWh
1 United Kingdom 19.31
2 Ireland 18.99
3 Spain 18.51
3 Belgium 16.34
3 Japan 15.64
6 Australia 14.01
7 Switzerland 14.00
8 Netherlands 13.98
9 Germany 13.58
10 Czech Republic 12.69
Let's compare how
GDP growth in recent years
UK GDP in Q3 2023 was 1.4% above its pre-pandemic level of Q4 2019. This compares with Eurozone GDP being 3.0% higher, with GDP in Germany up by 0.3%. The other G7 economies had higher growth than the UK over this period, including the US where GDP was 7.4% higher.
Reason for recent Economic mess Since 2019.
The vote to leave the EU had caused in a a slowdown in real GDP growth in the UK, with the main driver being weak investment growth. This box compared UK growth and investment since the referendum to that in the other major advanced countries in the G7.
This box is based on OECD data from November 2018 .
UK real GDP has grown slightly faster than we expected in our initial post-referendum forecast in November 2016. This has meant that, within the G7, growth in the UK has been only slightly weaker than that in Germany and France and has actually outpaced that in Japan and Italy (Chart C). But UK growth has slowed since the vote, and has been much weaker than anticipated in our final pre-referendum forecast in March 2016 and growth in the US and Canada.
So we can see that Dodgy
By putting the Blame on.the past
Labour Government is Dishonest Claim
no mention of the dire situation the Tories inherited,
Let's look at the situation after 14yrs
Of Tory Rule.
Inflation from 20q9
Inflation is currently 1.9% (Dec 09) – just below the government’s target of 2%.
Inflation. Since 2010
Under tory rule
Between September 2022 and March 2023, the UK experienced seven months of double-digit inflation, which peaked at 11.1 percent in October 2022.
Intrest rate Since 2010
2010s the highest interest rate was 0.75%
2024
5.25
GDP
At the height of the recession, GDP fell by 2.6% in a single quarter (Q1 2009)
monthly decline of 0.5% in December.
Wages
The figures show that, between 2000 and 2005, real weekly earnings rose by about 15% amid a buoyant economy. They then increased more slowly, by 5%, in the run-up to the 2008 financial crisis.
Tory Government
, the TUC’s research shows that UK real wages fell by 3.0% in 2022, the worst annual decline for 50 years.
Food inflation
high of 19.2% in March 2023, which was the highest annual rate seen for over 45 years.
Gas&Electric inflation
The countries with the highest electricity prices
Rank Country Price – pence per kWh
1 United Kingdom 19.31
2 Ireland 18.99
3 Spain 18.51
3 Belgium 16.34
3 Japan 15.64
6 Australia 14.01
7 Switzerland 14.00
8 Netherlands 13.98
9 Germany 13.58
10 Czech Republic 12.69
Let's compare how
GDP growth in recent years
UK GDP in Q3 2023 was 1.4% above its pre-pandemic level of Q4 2019. This compares with Eurozone GDP being 3.0% higher, with GDP in Germany up by 0.3%. The other G7 economies had higher growth than the UK over this period, including the US where GDP was 7.4% higher.
Reason for recent Economic mess Since 2019.
The vote to leave the EU had caused in a a slowdown in real GDP growth in the UK, with the main driver being weak investment growth. This box compared UK growth and investment since the referendum to that in the other major advanced countries in the G7.
This box is based on OECD data from November 2018 .
UK real GDP has grown slightly faster than we expected in our initial post-referendum forecast in November 2016. This has meant that, within the G7, growth in the UK has been only slightly weaker than that in Germany and France and has actually outpaced that in Japan and Italy (Chart C). But UK growth has slowed since the vote, and has been much weaker than anticipated in our final pre-referendum forecast in March 2016 and growth in the US and Canada.
So we can see that Dodgy
By putting the Blame on.the past
Labour Government is Dishonest Claim
