Tories as always will blame some one or some event for their miss-management. This time it will be Covid 19 for their economic disaster but as this report shows is had began a long time ago, as far back as 2010 when Cameron was elected and introduced soon after Austerity.
Ever since the cuts on Welfare and stop wage increases the economy suffers. People haven't got the money to buy not even the essentials and pay their bills. By now various Chancellors and PMs, started with Cameron and Osborne, screwed down the income and people starving and freezing to death. The streets are littered with rough sleepers. Austerity costs 130,000 lives!!!!
Well before the pandemic broke lose therefore Covid is no excuse for economy crash landed. Admittedly it didn't help but there again why didn't PM Johnson react in February 2020 to prevent a widespread of the virus. His famous words were "Let the virus run riot" and "heard immunisation". Covid, so far, costs 70,000 lives and a ruined economy and country!!!
UK is one of the top richest country in the world!?!?
Any one without any knowledge of economy knows that when you cut Welfare and stop wages the economy goes down.
It looks like 0,2 per cent in the second quarter, better as predicted but still a slow down from 0.4 per cent from the first quarter, a survey compiler Markit stated.
The service sector index rose from 53.5 in May from 52.3 in April which better than expected.
It helped the composite Index, which improved from 51.9 to 52.8, which includes manufacturing and construction.
Mark it's Chris Williamson who said: "Growth has collapsed in manufacturing and construction, leaving the economy dependent on the service sector to sustain the upturn, though even here the pace of expansion has remained frustratingly weak so far this year,
"An increasing number of firms have cited uncertainty regarding the EU referendum as a factor hurting their business growth in recent months.
"Response to a special question in May showed some 36 per cent of firms reporting a detrimental impact from Brexit uncertainty, with 8 per cent seeing a strongly detrimental effect.
"It seems reasonable to expect this uncertainty to persist and even intensify in June, subduing economic growth further."
No doubt there is some influence from the uncertainty of the outcome of EU referendum but the economy was not strong in the last six years and had two recessions, nearly missed a third one, plus one downgrading of the Pound from the sixth to the seventh place. The last two occurrences were years before the EU referendum was announced.
Norway left the EU in 1993 and is only in the EEA and is the fifth richest country. 90 per cent of the trade is with Europe.
Chancellor George Osborne's austerity is the real reason, not encouraging manufacturing and construction growth. In March it was announced that unemployment increased by 61,000. March has always been a month when employment drastically increased because of the better weather encouraging building works
Especially in this sector what happened to the promise from David Cameron in GE2015 to build affordable houses to reduce homelessness which would have improved unemployment in this section?
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