This is too positive for this sub, I come here to see articles saying the UK is becoming a poverty-stricken hell hole
I feel like including the 2020 figures in this analysis would provide some useful context. Most of this growth is only happening because we’re in an economic recovery period following the covid shitshow that was 2020, but how deeply was the UK cut compared to other G-7 nations in 2020?
Easy to grow faster when the contraction of a prior year was bigger than any of the G-7.
What it is not stating is just how far behind the UK fell in the last 5 years. We still have not caught up to where we were [5 years ago](https://tradingeconomics.com/united-kingdom/gdp). Next year it is forecast we will be above 2014 actuals. This does not account for the cost of inflation the people in the UK. So for all we should make more we will still be a lot worse off than the wages we had 8 years ago.
If it is so good why did we take on a 1% NI tax hike.
Why can’t we drop the VAT on energy for all the government is getting more vat in due to increased revenue. Increased energy is a win for VAT income as it is a % of the total.
Best growth? naaahh recovering from worst shrinkage.
Will the people feel this or will rent, bills and food keep on increasing faster than inflation?
Grand! There’ll be pay rises and investment in public services for all!
The previous post is about an old woman shivering in her home due to rising energy bills. Yay, growth.
A great headline for Brexiteers to uncritically parrot as evidence that everything is going just great in Brexitland.
Oh boy more Inflation. Can’t wait to get priced out of bread
Well this is shit statistics. Percentages are a measure of change but only relative to what is CHANGING. You cannot compare percentage GDP change on a like-for-like basis unless you also account for the quantity that is being changed from such as normalising the economies as part of the analysis.
A country with £1 GDP going to £2 GDP is a 100% increase. On paper that is the fastest growth but it doesn’t mean much at all in the bigger picture.
Its like the massive weight loss you can achieve when you are already 25 stone.
This is down to the goverments excellent protection of people’s jobs during the pandemic.
13 comments
This is too positive for this sub, I come here to see articles saying the UK is becoming a poverty-stricken hell hole
I feel like including the 2020 figures in this analysis would provide some useful context. Most of this growth is only happening because we’re in an economic recovery period following the covid shitshow that was 2020, but how deeply was the UK cut compared to other G-7 nations in 2020?
Easy to grow faster when the contraction of a prior year was bigger than any of the G-7.
What it is not stating is just how far behind the UK fell in the last 5 years. We still have not caught up to where we were [5 years ago](https://tradingeconomics.com/united-kingdom/gdp). Next year it is forecast we will be above 2014 actuals. This does not account for the cost of inflation the people in the UK. So for all we should make more we will still be a lot worse off than the wages we had 8 years ago.
If it is so good why did we take on a 1% NI tax hike.
Why can’t we drop the VAT on energy for all the government is getting more vat in due to increased revenue. Increased energy is a win for VAT income as it is a % of the total.
They like to claim we have so many people in work now. Why do we have so many claiming benefits? [22.8m in 2020](https://www.gov.uk/government/statistics/dwp-benefits-statistics-february-2021/dwp-benefits-statistics-february-2021)
Best growth? naaahh recovering from worst shrinkage.
Will the people feel this or will rent, bills and food keep on increasing faster than inflation?
Grand! There’ll be pay rises and investment in public services for all!
The previous post is about an old woman shivering in her home due to rising energy bills. Yay, growth.
A great headline for Brexiteers to uncritically parrot as evidence that everything is going just great in Brexitland.
Oh boy more Inflation. Can’t wait to get priced out of bread
Well this is shit statistics. Percentages are a measure of change but only relative to what is CHANGING. You cannot compare percentage GDP change on a like-for-like basis unless you also account for the quantity that is being changed from such as normalising the economies as part of the analysis.
A country with £1 GDP going to £2 GDP is a 100% increase. On paper that is the fastest growth but it doesn’t mean much at all in the bigger picture.
Its like the massive weight loss you can achieve when you are already 25 stone.
This is down to the goverments excellent protection of people’s jobs during the pandemic.