ECONOMY GROWTH SLOWS DOWN updated 27 July,2020

Update 27 July, 2020 - UK economy has gone even worse under PM Johnson but he will blame CV19 - admittedly CV19 closedown didnt help but as you can see the situation was bad way before that bc of Tory's Austerity.

The ship is sinking but Johnson will not stop Austerity and rather blame everything else.


Update 19 Oct., 2017 - UK has the highest inflation of 3.0 per cent since 2008 but they carry on with austerity and welfare cuts.

Surprise, surprise the economy slowed down since the beginning of the year.

It is a blow to the Chancellor Philip Hammond just before the General Election but no surprise to anyone of the public. GDP just grew 0.3 per cent in the first three months of 2017.

At the end of 2016 it was 0.7 per cent. Of course, because of Christmas any one can figure that out.

What kind of Chancellor is he not realizing that the more you cut people’s income – welfare, wages, - it results in loss of spending power. It’s as simple as that.  

It will even go further down after the impact of £12billion Welfare cut comes into it.

Despite of the evidence of economic growths slowing for years the more the Government keeps cutting down and Chancellor Philip Hammond will not face the truth.

He stated that the British economy “is resilient and warned of tough and complex Brexit negotiation ahead.

“That’s why we need a strong and stable leadership and a clear mandate to get the best possible deal for Britain,” he added.

One thing for sure, you got to give the Tories a medal for empty headlines times and again trying to blindfold the public.

Labour Chancellor John McDonnell said: “The figures revealed the threat to living standards under the Tories.

“There is no hiding from the truth. The Tories’ economic plan has undermined the UK economy.”

The GDP was revealed a week after the sharpest fall in retail sales for seven years. The living cost are bigger than the earnings for the first time since 2014 reducing spending power of shoppers.

All this is no news to everyone who had warned, written letters to the PM, newspapers made big headlines. The whole situation built up was so obvious that even the Government could not be aware of it but they ignored it.

Now, as the balloon is going to burst they blame Brexit. At least Labour does not get hammered again.

The Institute of Fiscal Studies warned of a looming squeeze in living standard with wages set to fall.

Young workers and men had the biggest fall in earnings since 2008 plus constant Welfare cuts it is not surprising that the spending power of people have finally run into the ground.

It will also have a backlash in manufacturing very shortly especially when the £12billion cuts for already struggling families, comes into effect.

The Evening Standard comment of the credibility of Labour on economy is dismal with its expansive spending commitments of health, schools and housing unmatched by specific about funding.

It purposely omitted that every time Jeremy Corbyn announced a funding he straight away explains where the money comes from. What troubles the Elite, fatcats and Tories that if Jeremy Corbyn gets elected he will be cutting them down with extra taxes and they know it.

Even The Sunday Times which issued a new list of top billionaires admitted that there has never been such rise in wealth. Adding the comment that there has never been such poverty since the Victorian times.