Posts Tagged ‘Recovery’

Why the economy is in far worse shape than Osborne admits

by Michael Meacher.

Osborne’s portrayal of the British economy as having “the fastest rate of recovery of any advanced nation in the world”, which he again repeated yesterday, is sheer poppycock. He continues to boast that GDP growth can be expected to average some 2.5% per annum over the period ahead, but on every key economic indicator that […]

Fake US & British recoveries are damaging the global economy

by Michael Burke.

Official economic opinion from the IMF is that the US and the British are the only industrialised economies that are growing strongly and that their growth model should be reproduced generally. The reality is very different. Both recoveries are the weakest on record and are fuelled by an unsustainable (debt-fuelled) rise in consumption. The international effects […]

When will Labour start whacking Tories over their economic policy failures?

by Michael Meacher.

The Tories’ first election poster depicts a road wending its way through the countryside till far in the distance, with the motif below: continue with the Tory-led recovery of the economy which the Labour party wrecked. It’s a theme which will be repeated endlessly up till the election which Labour, astonishingly, has made no attempt […]

Osborne’s own policies shrink tax revenues, yet he cuts more to compensate

by Michael Meacher.

There are now unmistakeable signs that Osborne’s so-called economic recovery is fading, despite all the right-wing think tanks and pro-Tory media to talk it up. A survey of 7,000 businesses by the British Chambers of Commerce has just found that manufacturers have suffered a sharp slowdown in export orders, and even more significantly domestic sales […]

The recovery’s fading: so what should be the policy now?

by Michael Meacher.

The evidence that Osborne’s so-called recovery is fading is now too strong to ignore.The latest evidence released by the IPPR think-tank finds that two-fifths of all new jobs since 2010 have been self-employment, oten at a pittance income – indeed the figures show that self-employment incomes have fallen by an average £2,000 since May 2010, […]

Millions struggling to make ends meet isn’t a recovery, it’s desperation

by Michael Meacher.

From the constant hurrahs about the brilliant success of government employment policy (official figures now say there are 30.39m in ‘employment’), you would never guess that unemployment has hardly shifted under this government – it’s down from 2.5m to just 2.4m. Previously when real recoveries took hold, the unemployment figures fell by 100,000 a month, […]

Gideon’s promise of a Goldilocks recovery is pure fantasy

by Michael Meacher.

George Osborne preened himself – yet again – at the IMF conference 2 days ago that the Western economies are now set for a prosperous future, even as central banks steadily withdraw the lifeline that kept them afloat after the 2008 crash. Apparently normality is returning after the unfortunate blip five to six years ago. […]

If this is a recovery, why are we getting poorer?

by Michael Burke.

At a certain point this year GDP will finally recover its pre-recession peak, 6 years or more after the recession. This will be the longest British slump in living memory and the most severe downturn since the Great Depression. The government and supporters of austerity are keen to emphasise the fact that the economy is […]

Beware Osborne’s massaged figures

by Michael Meacher.

According to the writing on Osborne’s tin, we now have the fastest rate of growth of any major Western country. But as with all tins, it’s as important to think about what it doesn’t say as what it does say, as well as to wonder whether what it does say is realistic and can be […]

Signs grow that recovery is fading before it even got under way

by Michael Meacher.

The fall in anticipated government revenues, just announced, must send alarm bells to anyone who still believes that the current economic uptick is going to go anywhere. The OBR had predicted that government revenues in the 2014-5 tax year would reach 38.8% of national income. They have been progressively revising down their forecasts to as […]

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