OECD: Prospects brighter for global economy
09/03/2021 | news | business | 112
The OECD upgrades forecasts for the UK and global economy, but says pandemic costs will weigh on countries.
1
09/03/2021 16:03:55 19 8
bbc
Economic growth is wedded to energy consumption and population growth, neither of which are good news for reversing environmental degradation.
8
09/03/2021 17:31:11 8 5
bbc
14
09/03/2021 18:52:12 1 5
bbc
It wouldn't need to be if it wasn't for the fact that most people survive on debt, pretending to be much wealthier than they are, makes me laugh all those people in their flashy lease cars, that I could afford to buy cash but choose not to!
2
09/03/2021 16:17:18 6 4
bbc
Good news - without economic recovery, many things falter not least livelihoods and therefore mental & physical health.
3
09/03/2021 16:20:26 19 4
bbc
The global economy lost half a billion jobs, focus on those not some artificial GDP number.... which has been inflated with new worthless printed money. (Central banks this year effectively pulled off the greatest theft of all time)
15
09/03/2021 18:55:02 8 8
bbc
I agree instead of focusing on the fall in GDP it is much better to look at the unemployent rate. In the UK although GDP fell sharper than France unemployment is and will be low . After the pandemic it is expected that UK unemployment will peak at 6.5 percent which is lower than France unemployment of 8 percent before the pandemic, and much lower than Spains unemployment of 16 percent.
50
09/03/2021 23:08:45 0 2
bbc
Are you related to Keynes by any chance? Micky mouse economics then?
4
09/03/2021 16:21:33 4 5
bbc
Crystal ball economics at work again.
5
09/03/2021 16:21:15 7 3
bbc
Well, let's hope so. We have had too much doom and glook recently.
107
10/03/2021 11:02:23 0 0
bbc
Not sure what "glook" is, mind :)
6
09/03/2021 16:39:07 9 5
bbc
Talk about stating the obvious? Of course once you start reopening after lockdown it will pick up. Just by being out and about people will spend.
7
09/03/2021 17:21:19 12 24
bbc
"A leading international agency has upgraded its forecasts for global and British economic growth this year and next."

Global Britain is leading this with the US thanks to vaccine roll out. Well done Boris
31
09/03/2021 20:48:14 8 2
bbc
If you read the whole article you’ll see that the 2nd largest expectations shortfall is for the UK. Wonder why...
1
09/03/2021 16:03:55 19 8
bbc
Economic growth is wedded to energy consumption and population growth, neither of which are good news for reversing environmental degradation.
8
09/03/2021 17:31:11 8 5
bbc
51
09/03/2021 23:09:23 0 4
bbc
Excellent comment. 100% right too!
9
09/03/2021 17:39:22 0 7
bbc
The OECD is renowned for getting its forecasts horribly wrong.
49
09/03/2021 23:07:23 1 1
bbc
I bet you are really fun to live with!
10
09/03/2021 18:21:46 8 9
bbc
A key to economic improvement will be how soon the UK is open for business, back to normal so to speak.

The UK having an impressive covid vaccine rollout will only help that.
16
09/03/2021 18:54:55 10 14
bbc
It would be bad for the UK if the EU really struggles. But I think recently the moaners have had to admit that the EU looks increasingly useless. We didn't join the EU anyway, it was forced on us by stealth, most of us were quite happy with the original non political trade agreement that we actually voted to join. Love Europe, detest the EU.
58
10/03/2021 00:12:11 0 2
bbc
You can't say normal anymore. It offends the abnormal.
You must say ordinary to emphasise the extraordinary.
11
09/03/2021 18:25:08 6 6
bbc
Unfortunately, cannot see how a sustainable growth can be made when there is so much BrExit related business loss (especially in c80% Service based Economy). Only way UK could prosper is to have better balance with Gender Rhetoric (ie currently dont see any Male Motivation, Male Bashing & everything is about Women Wellbeing, Example Front Page BBC!), more STEM Education, Tech/Pharma Manufacturing!
13
09/03/2021 18:50:12 5 11
bbc
I produce stuff in the UK for the UK market, competing over the last two decades with mostly EU imports. Brexit has been brilliant for me, only positives so far. I just can;t produce enough to keep clients happy!
47
09/03/2021 23:05:49 1 2
bbc
Go to bed. What an airhead comment
61
10/03/2021 00:23:41 0 0
bbc
Bless! Lay off the booze.
12
09/03/2021 18:42:59 9 10
bbc
The UK vaccine success has highlighted that science and technology are the UK's strengths.

We need to build a whole host of world class science and tech companies.

This is the way forward. Not arguing over EU sandwich regulations.
60
10/03/2021 00:21:57 0 2
bbc
The UK doesn't have many of those, it is mainly service industries. Try the USA, Japan, EU, Scandy, SE Asia, RoC. RoK, PRC. The UK voted for sandwich regulations and it got what it voted for.
62
10/03/2021 00:43:02 0 0
bbc
Right!
We do need to "build a whole host of world class science and tech companies" but that is a lot easier said than done.
UK has been living a champagne lifestyle on a beer income for two generations.
We simply aren't competitive.
Our productivity is amongst the worst in Europe.
Our infrastructure is mainly Victorian and creaking.
Our education system lags our competitors.
Fundamental problems!
70
10/03/2021 08:16:53 0 0
bbc
Yes, it was only people from the UK that developed vaccines. No those evil people from the EU, they had nothing to do with it.

We've left the EU, time to get over it. ;-)
11
09/03/2021 18:25:08 6 6
bbc
Unfortunately, cannot see how a sustainable growth can be made when there is so much BrExit related business loss (especially in c80% Service based Economy). Only way UK could prosper is to have better balance with Gender Rhetoric (ie currently dont see any Male Motivation, Male Bashing & everything is about Women Wellbeing, Example Front Page BBC!), more STEM Education, Tech/Pharma Manufacturing!
13
09/03/2021 18:50:12 5 11
bbc
I produce stuff in the UK for the UK market, competing over the last two decades with mostly EU imports. Brexit has been brilliant for me, only positives so far. I just can;t produce enough to keep clients happy!
30
09/03/2021 20:44:35 5 2
bbc
You still won’t tell us what you produce and how you buck the trend. It’s as if you’re just making it up...
71
10/03/2021 08:17:43 0 0
bbc
Still won't say what industry it is, though, will you? I wonder why.
1
09/03/2021 16:03:55 19 8
bbc
Economic growth is wedded to energy consumption and population growth, neither of which are good news for reversing environmental degradation.
14
09/03/2021 18:52:12 1 5
bbc
It wouldn't need to be if it wasn't for the fact that most people survive on debt, pretending to be much wealthier than they are, makes me laugh all those people in their flashy lease cars, that I could afford to buy cash but choose not to!
23
09/03/2021 19:38:00 2 2
bbc
Yup Walt, of course you can.........................
24
09/03/2021 19:41:54 1 2
bbc
............and not 'most' : around half of UK adults have unsecured debt.
32
09/03/2021 20:50:15 5 2
bbc
You’re a fantasist, trying to overcompensate for voting to make the country and yourself worse off.
3
09/03/2021 16:20:26 19 4
bbc
The global economy lost half a billion jobs, focus on those not some artificial GDP number.... which has been inflated with new worthless printed money. (Central banks this year effectively pulled off the greatest theft of all time)
15
09/03/2021 18:55:02 8 8
bbc
I agree instead of focusing on the fall in GDP it is much better to look at the unemployent rate. In the UK although GDP fell sharper than France unemployment is and will be low . After the pandemic it is expected that UK unemployment will peak at 6.5 percent which is lower than France unemployment of 8 percent before the pandemic, and much lower than Spains unemployment of 16 percent.
18
09/03/2021 19:19:47 2 7
bbc
Because France has strong employment laws, companies are loathe to take on anyone who might not perform, because it is almost impossible to get rid of them. People moan about ZoC here (mostly lefties with cushy public sector jobs who aren't affected by them!), but the UK has high employment because it has flexible employment.
10
09/03/2021 18:21:46 8 9
bbc
A key to economic improvement will be how soon the UK is open for business, back to normal so to speak.

The UK having an impressive covid vaccine rollout will only help that.
16
09/03/2021 18:54:55 10 14
bbc
It would be bad for the UK if the EU really struggles. But I think recently the moaners have had to admit that the EU looks increasingly useless. We didn't join the EU anyway, it was forced on us by stealth, most of us were quite happy with the original non political trade agreement that we actually voted to join. Love Europe, detest the EU.
17
09/03/2021 19:08:19 3 3
bbc
"Love Europe, detest the EU."

Exactly. I really hope that Europe gets the vaccines they need asap.

Maybe the UK can chip in to help once we have our own lot protected.
48
09/03/2021 23:06:59 0 2
bbc
Exactly. Well said
16
09/03/2021 18:54:55 10 14
bbc
It would be bad for the UK if the EU really struggles. But I think recently the moaners have had to admit that the EU looks increasingly useless. We didn't join the EU anyway, it was forced on us by stealth, most of us were quite happy with the original non political trade agreement that we actually voted to join. Love Europe, detest the EU.
17
09/03/2021 19:08:19 3 3
bbc
"Love Europe, detest the EU."

Exactly. I really hope that Europe gets the vaccines they need asap.

Maybe the UK can chip in to help once we have our own lot protected.
15
09/03/2021 18:55:02 8 8
bbc
I agree instead of focusing on the fall in GDP it is much better to look at the unemployent rate. In the UK although GDP fell sharper than France unemployment is and will be low . After the pandemic it is expected that UK unemployment will peak at 6.5 percent which is lower than France unemployment of 8 percent before the pandemic, and much lower than Spains unemployment of 16 percent.
18
09/03/2021 19:19:47 2 7
bbc
Because France has strong employment laws, companies are loathe to take on anyone who might not perform, because it is almost impossible to get rid of them. People moan about ZoC here (mostly lefties with cushy public sector jobs who aren't affected by them!), but the UK has high employment because it has flexible employment.
20
09/03/2021 19:35:02 2 5
bbc
True, plus France has employers national insurance of 30 percent compared to 14 percent in this country. Employer national insurance is basically a "tax on jobs', so because of lower employment tax businesses are incentivised to hire more workers.
36
09/03/2021 21:29:06 6 3
bbc
The UK has high employment, because one hour a week counts as being employed.
19
09/03/2021 19:30:49 6 1
bbc
I work for an Engineering company in Sunnyvale we had a peak in shipments just before the Trump years then things slowed down. Now it's picking up again the guidance from our customers is we will be busy through 2023 .
74
10/03/2021 08:23:40 0 1
bbc
Good for you :)

My small engineering consultancy is also extremely busy and we're recruiting again in a few days. The business climate is bouyant.

Looking further afield, the FTSE250 is at an all-time high, inflation is low, unemployment is around 5% - things could be a lot worse.

It's down to the UK Government's vaccine strategy and management success, probably why they're 13% up in the polls.
18
09/03/2021 19:19:47 2 7
bbc
Because France has strong employment laws, companies are loathe to take on anyone who might not perform, because it is almost impossible to get rid of them. People moan about ZoC here (mostly lefties with cushy public sector jobs who aren't affected by them!), but the UK has high employment because it has flexible employment.
20
09/03/2021 19:35:02 2 5
bbc
True, plus France has employers national insurance of 30 percent compared to 14 percent in this country. Employer national insurance is basically a "tax on jobs', so because of lower employment tax businesses are incentivised to hire more workers.
21
09/03/2021 19:36:45 6 12
bbc
The restrictions on shipping caused by container shortages will help with sourcing products closer to home.

The recovery in the UK will be quicker than most imagine.
35
09/03/2021 21:27:10 7 5
bbc
It depends on what goods, and at what price. People could just as easily decide to do without.
22
09/03/2021 19:36:43 12 5
bbc
U17881151

The UK vaccine success has highlighted that science and technology are the UK's strengths.

We need to build a whole host of world class science and tech companies.

This is the way forward. Not arguing over EU sandwich regulations.

**

As you say all good : but for global businesses.

..................as an awful lot are in 2021.

A fact a lot on here don't understand.
59
10/03/2021 00:15:59 6 5
bbc
The UK's economy is mainly service oriented with a handful of decent tech outfits. The UK had its chances but has thrown them all away, starting with Thatcher. Where are the chip fabs etc?
14
09/03/2021 18:52:12 1 5
bbc
It wouldn't need to be if it wasn't for the fact that most people survive on debt, pretending to be much wealthier than they are, makes me laugh all those people in their flashy lease cars, that I could afford to buy cash but choose not to!
23
09/03/2021 19:38:00 2 2
bbc
Yup Walt, of course you can.........................
14
09/03/2021 18:52:12 1 5
bbc
It wouldn't need to be if it wasn't for the fact that most people survive on debt, pretending to be much wealthier than they are, makes me laugh all those people in their flashy lease cars, that I could afford to buy cash but choose not to!
24
09/03/2021 19:41:54 1 2
bbc
............and not 'most' : around half of UK adults have unsecured debt.
25
09/03/2021 20:02:10 1 2
bbc
That is still an awful lot!
24
09/03/2021 19:41:54 1 2
bbc
............and not 'most' : around half of UK adults have unsecured debt.
25
09/03/2021 20:02:10 1 2
bbc
That is still an awful lot!
26
09/03/2021 20:17:02 4 13
bbc
footsie 100 now in strong place for comparing last 12 months.
33
09/03/2021 21:07:03 11 6
bbc
Propped up by a wave of cheap debt. The correction is coming.
54
10/03/2021 00:07:38 1 1
bbc
The FTSE is barely as high as it was in 1999, despite regularly dropping declining companies and boosting it with growing firms.
27
09/03/2021 20:23:32 9 9
bbc
Global economy expanding by 5.6%.
Business as usual.
Good bye to the planet and all that lives on it.
45
09/03/2021 23:03:24 5 3
bbc
So you will no longer drive your car, buy clothes, book holidays. Come off it
shorted the granny out of the work from home yuppies favourite food and beverage on line delivery service, just about 4 weeks ago sold for a well overpriced £28 and a bit , bought back for under £ 21 recently. EASY MONEY , theres my loft conversion financed Removed
29
09/03/2021 20:33:32 4 9
bbc
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
Everyone is looking for a bargain but that sure is difficult to do, if our manufacturing costs are to high and it is not up to the expected quality .
34
09/03/2021 21:25:38 6 12
bbc
I won't be working any harder. Quite happy as it is.
43
09/03/2021 22:27:41 1 4
bbc
No sign of any UK improvement. Brexit costs worsens our position.
13
09/03/2021 18:50:12 5 11
bbc
I produce stuff in the UK for the UK market, competing over the last two decades with mostly EU imports. Brexit has been brilliant for me, only positives so far. I just can;t produce enough to keep clients happy!
30
09/03/2021 20:44:35 5 2
bbc
You still won’t tell us what you produce and how you buck the trend. It’s as if you’re just making it up...
7
09/03/2021 17:21:19 12 24
bbc
"A leading international agency has upgraded its forecasts for global and British economic growth this year and next."

Global Britain is leading this with the US thanks to vaccine roll out. Well done Boris
31
09/03/2021 20:48:14 8 2
bbc
If you read the whole article you’ll see that the 2nd largest expectations shortfall is for the UK. Wonder why...
14
09/03/2021 18:52:12 1 5
bbc
It wouldn't need to be if it wasn't for the fact that most people survive on debt, pretending to be much wealthier than they are, makes me laugh all those people in their flashy lease cars, that I could afford to buy cash but choose not to!
32
09/03/2021 20:50:15 5 2
bbc
You’re a fantasist, trying to overcompensate for voting to make the country and yourself worse off.
40
09/03/2021 22:09:50 0 5
bbc
No sunshine, my business is a beneficiary of Brexit, that is why I voted Leave.
26
09/03/2021 20:17:02 4 13
bbc
footsie 100 now in strong place for comparing last 12 months.
33
09/03/2021 21:07:03 11 6
bbc
Propped up by a wave of cheap debt. The correction is coming.
46
09/03/2021 23:04:09 2 4
bbc
What a mealy mouth comment when nearly everybody wants a boost
29
09/03/2021 20:33:32 4 9
bbc
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
Everyone is looking for a bargain but that sure is difficult to do, if our manufacturing costs are to high and it is not up to the expected quality .
34
09/03/2021 21:25:38 6 12
bbc
I won't be working any harder. Quite happy as it is.
44
09/03/2021 22:32:48 3 1
bbc
Given the number of comments you post all over HYS on a daily basis, I very much doubt you do work at all
99
OwO
10/03/2021 10:26:36 3 0
bbc
And one of the first to use the term "I'm alright Jack" when attacking others, yet here we see it personified.
21
09/03/2021 19:36:45 6 12
bbc
The restrictions on shipping caused by container shortages will help with sourcing products closer to home.

The recovery in the UK will be quicker than most imagine.
35
09/03/2021 21:27:10 7 5
bbc
It depends on what goods, and at what price. People could just as easily decide to do without.
18
09/03/2021 19:19:47 2 7
bbc
Because France has strong employment laws, companies are loathe to take on anyone who might not perform, because it is almost impossible to get rid of them. People moan about ZoC here (mostly lefties with cushy public sector jobs who aren't affected by them!), but the UK has high employment because it has flexible employment.
36
09/03/2021 21:29:06 6 3
bbc
The UK has high employment, because one hour a week counts as being employed.
93
10/03/2021 10:12:33 0 0
bbc
France has higher unemployment whatever measure you use. If you look at the Eu data which compares like for like statistics it clearly shows that France has doubled the unemployment rate of the UK.
37
09/03/2021 21:36:56 9 8
bbc
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
41
09/03/2021 22:23:12 5 7
bbc
Brits haven't even competitive for 20 years and are getting worse.
56
10/03/2021 00:08:43 1 3
bbc
That sounds like Brexit bs.
76
10/03/2021 08:28:49 0 1
bbc
"Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem."

Agreed it is an incredibly basic concept, but I'm not sure why you're mocking, are you suggesting that it's not actually true on a fundamental level? If so, the joke's on you I'm afraid.

Are you a fan of 'Corbynomics' or something?
87
10/03/2021 09:12:07 0 0
bbc
"work hard and be productive"
... a recurrent phrase heard from retired, do-nothing grandads about their kids.
But reference Kwasi's report that it was "lazy" and complacent baby boomers that caused Britiain's economic decline with poor work ethics and missed opportunities

https://www.telegraph.co.uk/news/politics/9483268/Young-Tory-MPs-blame-lazy-baby-boomers-for-Britains-economic-decline.html
38
09/03/2021 21:48:59 8 3
bbc
This is really good news (for a change)

However, Scotland are going to need it...... NS latest blunder which will hit the news very shortly. Huge new tax bill hit to Scottish tax payer: This one is seismic!

www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
85
10/03/2021 09:04:47 0 1
bbc
I think you'll find the Gupta/Private Equity/steel mess extends far beyond Scotland.
Question is, Phil (or is it Momentum troll?) will HMG bail them out?
Can they afford to?
Can they afford not to, having based a large part of the Brexit argument on being able to bail out and subsidise BRITISH key industries free of EU intervention?
38
09/03/2021 21:48:59 8 3
bbc
This is really good news (for a change)

However, Scotland are going to need it...... NS latest blunder which will hit the news very shortly. Huge new tax bill hit to Scottish tax payer: This one is seismic!

www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
42
09/03/2021 22:26:33 2 2
bbc
£20 per person maybe, worst case, probably not.
55
10/03/2021 00:07:45 1 2
bbc
So the Brexiteers lied when they claimed governments couldn't help failing firms.
32
09/03/2021 20:50:15 5 2
bbc
You’re a fantasist, trying to overcompensate for voting to make the country and yourself worse off.
40
09/03/2021 22:09:50 0 5
bbc
No sunshine, my business is a beneficiary of Brexit, that is why I voted Leave.
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
41
09/03/2021 22:23:12 5 7
bbc
Brits haven't even competitive for 20 years and are getting worse.
42
09/03/2021 22:26:33 2 2
bbc
£20 per person maybe, worst case, probably not.
29
09/03/2021 20:33:32 4 9
bbc
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
Everyone is looking for a bargain but that sure is difficult to do, if our manufacturing costs are to high and it is not up to the expected quality .
43
09/03/2021 22:27:41 1 4
bbc
No sign of any UK improvement. Brexit costs worsens our position.
34
09/03/2021 21:25:38 6 12
bbc
I won't be working any harder. Quite happy as it is.
44
09/03/2021 22:32:48 3 1
bbc
Given the number of comments you post all over HYS on a daily basis, I very much doubt you do work at all
27
09/03/2021 20:23:32 9 9
bbc
Global economy expanding by 5.6%.
Business as usual.
Good bye to the planet and all that lives on it.
45
09/03/2021 23:03:24 5 3
bbc
So you will no longer drive your car, buy clothes, book holidays. Come off it
57
10/03/2021 00:09:53 1 2
bbc
Don't know much about economics do you.
33
09/03/2021 21:07:03 11 6
bbc
Propped up by a wave of cheap debt. The correction is coming.
46
09/03/2021 23:04:09 2 4
bbc
What a mealy mouth comment when nearly everybody wants a boost
11
09/03/2021 18:25:08 6 6
bbc
Unfortunately, cannot see how a sustainable growth can be made when there is so much BrExit related business loss (especially in c80% Service based Economy). Only way UK could prosper is to have better balance with Gender Rhetoric (ie currently dont see any Male Motivation, Male Bashing & everything is about Women Wellbeing, Example Front Page BBC!), more STEM Education, Tech/Pharma Manufacturing!
47
09/03/2021 23:05:49 1 2
bbc
Go to bed. What an airhead comment
16
09/03/2021 18:54:55 10 14
bbc
It would be bad for the UK if the EU really struggles. But I think recently the moaners have had to admit that the EU looks increasingly useless. We didn't join the EU anyway, it was forced on us by stealth, most of us were quite happy with the original non political trade agreement that we actually voted to join. Love Europe, detest the EU.
48
09/03/2021 23:06:59 0 2
bbc
Exactly. Well said
9
09/03/2021 17:39:22 0 7
bbc
The OECD is renowned for getting its forecasts horribly wrong.
49
09/03/2021 23:07:23 1 1
bbc
I bet you are really fun to live with!
3
09/03/2021 16:20:26 19 4
bbc
The global economy lost half a billion jobs, focus on those not some artificial GDP number.... which has been inflated with new worthless printed money. (Central banks this year effectively pulled off the greatest theft of all time)
50
09/03/2021 23:08:45 0 2
bbc
Are you related to Keynes by any chance? Micky mouse economics then?
8
09/03/2021 17:31:11 8 5
bbc
51
09/03/2021 23:09:23 0 4
bbc
Excellent comment. 100% right too!
52
09/03/2021 23:26:52 5 14
bbc
“A leading international agency has upgraded its forecasts for global and British economic growth this year and next”

Also outstrips net EU growth forecast of EU27.

So much for Brexit Project Fear 2!.
53
09/03/2021 23:55:30 4 5
bbc
No it doesn't.
Why do brexiteers keep lying about this kind of stuff. Ah yes, because they assume that, like themselves, nobody will actually check any bogus claim made about their brexit religion. Removed
105
10/03/2021 10:39:07 0 0
bbc
Not it's doesn't. Project reality continues. ;-)
52
09/03/2021 23:26:52 5 14
bbc
“A leading international agency has upgraded its forecasts for global and British economic growth this year and next”

Also outstrips net EU growth forecast of EU27.

So much for Brexit Project Fear 2!.
53
09/03/2021 23:55:30 4 5
bbc
No it doesn't.
26
09/03/2021 20:17:02 4 13
bbc
footsie 100 now in strong place for comparing last 12 months.
54
10/03/2021 00:07:38 1 1
bbc
The FTSE is barely as high as it was in 1999, despite regularly dropping declining companies and boosting it with growing firms.
55
10/03/2021 00:07:45 1 2
bbc
So the Brexiteers lied when they claimed governments couldn't help failing firms.
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
56
10/03/2021 00:08:43 1 3
bbc
That sounds like Brexit bs.
45
09/03/2021 23:03:24 5 3
bbc
So you will no longer drive your car, buy clothes, book holidays. Come off it
57
10/03/2021 00:09:53 1 2
bbc
Don't know much about economics do you.
10
09/03/2021 18:21:46 8 9
bbc
A key to economic improvement will be how soon the UK is open for business, back to normal so to speak.

The UK having an impressive covid vaccine rollout will only help that.
58
10/03/2021 00:12:11 0 2
bbc
You can't say normal anymore. It offends the abnormal.
You must say ordinary to emphasise the extraordinary.
22
09/03/2021 19:36:43 12 5
bbc
U17881151

The UK vaccine success has highlighted that science and technology are the UK's strengths.

We need to build a whole host of world class science and tech companies.

This is the way forward. Not arguing over EU sandwich regulations.

**

As you say all good : but for global businesses.

..................as an awful lot are in 2021.

A fact a lot on here don't understand.
59
10/03/2021 00:15:59 6 5
bbc
The UK's economy is mainly service oriented with a handful of decent tech outfits. The UK had its chances but has thrown them all away, starting with Thatcher. Where are the chip fabs etc?
12
09/03/2021 18:42:59 9 10
bbc
The UK vaccine success has highlighted that science and technology are the UK's strengths.

We need to build a whole host of world class science and tech companies.

This is the way forward. Not arguing over EU sandwich regulations.
60
10/03/2021 00:21:57 0 2
bbc
The UK doesn't have many of those, it is mainly service industries. Try the USA, Japan, EU, Scandy, SE Asia, RoC. RoK, PRC. The UK voted for sandwich regulations and it got what it voted for.
11
09/03/2021 18:25:08 6 6
bbc
Unfortunately, cannot see how a sustainable growth can be made when there is so much BrExit related business loss (especially in c80% Service based Economy). Only way UK could prosper is to have better balance with Gender Rhetoric (ie currently dont see any Male Motivation, Male Bashing & everything is about Women Wellbeing, Example Front Page BBC!), more STEM Education, Tech/Pharma Manufacturing!
61
10/03/2021 00:23:41 0 0
bbc
Bless! Lay off the booze.
12
09/03/2021 18:42:59 9 10
bbc
The UK vaccine success has highlighted that science and technology are the UK's strengths.

We need to build a whole host of world class science and tech companies.

This is the way forward. Not arguing over EU sandwich regulations.
62
10/03/2021 00:43:02 0 0
bbc
Right!
We do need to "build a whole host of world class science and tech companies" but that is a lot easier said than done.
UK has been living a champagne lifestyle on a beer income for two generations.
We simply aren't competitive.
Our productivity is amongst the worst in Europe.
Our infrastructure is mainly Victorian and creaking.
Our education system lags our competitors.
Fundamental problems!
63
10/03/2021 00:53:07 3 1
bbc
Massive government spending (& borrowing) has made it very. difficult to spot underlying economic trends.
Only when businesses are left to sink or swim and jobs to survive or vanish will we get a clear picture.
At the moment we are looking at a cardboard cutout of relative prosperity but even Rishi can't make cardboard last much longer.
64
JBd
10/03/2021 03:44:38 1 0
bbc
There’s a rebound effect of course.

Spain 2021 forecast +5.7% (UK 5.1%) but dropped 11% in 2020 so 5.9% down over 2 years.

In contrast, Korea's forecast is a modest 3.3% but only dropped by 1% in 2020, so up 2.3% up over 2 years. Aus up 1.9% over 2 years.

The UK 5.3% down and the Euro Area 3.2% down over 2 years.

China bucks the trend with growth in both years for 10.4% growth over 2 years.
68
10/03/2021 08:12:13 2 1
bbc
Percentages for subsequent years need to be multiplied to give the compounded value.

For example the UK figures you have there. 11% in year 1 followed by 5.1% up in year two means the figure at the end of year 2 is 6.4% lower than the figure at the start of year 1. It's because the 5.1% up in year 2 is only applied to the 89% of the economy left at the end of year 1.
65
10/03/2021 07:21:28 2 2
bbc
As ever, the story would be vastly improved by a comparison chart for the main economies.

A stunning omission, for example, is the data for Europe and the Eurozone.....
66
cb
10/03/2021 07:36:46 6 1
bbc
From other BBC article -

“By the OECD's analysis of official figures, the U.K. suffered the worst 2020 economic hit in the G7 group of the most industrialised countries. In fact, the OECD went further with a chart comparing growth in the fourth quarter of 2020 with growth in the same quarter in 2019, showing the UK at the bottom of the much wider G20 grouping too”
65
10/03/2021 07:21:28 2 2
bbc
As ever, the story would be vastly improved by a comparison chart for the main economies.

A stunning omission, for example, is the data for Europe and the Eurozone.....
66
cb
10/03/2021 07:36:46 6 1
bbc
From other BBC article -

“By the OECD's analysis of official figures, the U.K. suffered the worst 2020 economic hit in the G7 group of the most industrialised countries. In fact, the OECD went further with a chart comparing growth in the fourth quarter of 2020 with growth in the same quarter in 2019, showing the UK at the bottom of the much wider G20 grouping too”
72
10/03/2021 08:15:47 1 0
bbc
Indeed that data is there - for 2020.

This story is about the forecast for 2021, so where's the comparable data in this story for 2021..........?
67
cb
10/03/2021 07:40:16 9 4
bbc
Perhaps if we managed our money a little better?

£355m a week on track and trace. Why not spend the money on the NHS instead?
Spend on T&T counts in the plus column for GDP growth purposes, as does all public spend no matter how wasteful or beneficial.
64
JBd
10/03/2021 03:44:38 1 0
bbc
There’s a rebound effect of course.

Spain 2021 forecast +5.7% (UK 5.1%) but dropped 11% in 2020 so 5.9% down over 2 years.

In contrast, Korea's forecast is a modest 3.3% but only dropped by 1% in 2020, so up 2.3% up over 2 years. Aus up 1.9% over 2 years.

The UK 5.3% down and the Euro Area 3.2% down over 2 years.

China bucks the trend with growth in both years for 10.4% growth over 2 years.
68
10/03/2021 08:12:13 2 1
bbc
Percentages for subsequent years need to be multiplied to give the compounded value.

For example the UK figures you have there. 11% in year 1 followed by 5.1% up in year two means the figure at the end of year 2 is 6.4% lower than the figure at the start of year 1. It's because the 5.1% up in year 2 is only applied to the 89% of the economy left at the end of year 1.
73
JBd
10/03/2021 08:23:35 1 0
bbc
I did compound. The latest OECD report has the UK down 9.9% in 2020 and up 5.1% in 2021

0.091 X 1.0051 – 1 = -0.053
52
09/03/2021 23:26:52 5 14
bbc
“A leading international agency has upgraded its forecasts for global and British economic growth this year and next”

Also outstrips net EU growth forecast of EU27.

So much for Brexit Project Fear 2!.
Why do brexiteers keep lying about this kind of stuff. Ah yes, because they assume that, like themselves, nobody will actually check any bogus claim made about their brexit religion. Removed
12
09/03/2021 18:42:59 9 10
bbc
The UK vaccine success has highlighted that science and technology are the UK's strengths.

We need to build a whole host of world class science and tech companies.

This is the way forward. Not arguing over EU sandwich regulations.
70
10/03/2021 08:16:53 0 0
bbc
Yes, it was only people from the UK that developed vaccines. No those evil people from the EU, they had nothing to do with it.

We've left the EU, time to get over it. ;-)
13
09/03/2021 18:50:12 5 11
bbc
I produce stuff in the UK for the UK market, competing over the last two decades with mostly EU imports. Brexit has been brilliant for me, only positives so far. I just can;t produce enough to keep clients happy!
71
10/03/2021 08:17:43 0 0
bbc
Still won't say what industry it is, though, will you? I wonder why.
66
cb
10/03/2021 07:36:46 6 1
bbc
From other BBC article -

“By the OECD's analysis of official figures, the U.K. suffered the worst 2020 economic hit in the G7 group of the most industrialised countries. In fact, the OECD went further with a chart comparing growth in the fourth quarter of 2020 with growth in the same quarter in 2019, showing the UK at the bottom of the much wider G20 grouping too”
72
10/03/2021 08:15:47 1 0
bbc
Indeed that data is there - for 2020.

This story is about the forecast for 2021, so where's the comparable data in this story for 2021..........?
83
cb
10/03/2021 09:01:40 0 1
bbc
It’s quite easy to find on the OECD website. If you’re that interested. France and Spain above us, Germany and Italy below.
68
10/03/2021 08:12:13 2 1
bbc
Percentages for subsequent years need to be multiplied to give the compounded value.

For example the UK figures you have there. 11% in year 1 followed by 5.1% up in year two means the figure at the end of year 2 is 6.4% lower than the figure at the start of year 1. It's because the 5.1% up in year 2 is only applied to the 89% of the economy left at the end of year 1.
73
JBd
10/03/2021 08:23:35 1 0
bbc
I did compound. The latest OECD report has the UK down 9.9% in 2020 and up 5.1% in 2021

0.091 X 1.0051 – 1 = -0.053
77
JBd
10/03/2021 08:29:24 1 0
bbc
Opps Typo.0 .091 x 1.051 - 1 = -0.053 = - 5.3% as original post
19
09/03/2021 19:30:49 6 1
bbc
I work for an Engineering company in Sunnyvale we had a peak in shipments just before the Trump years then things slowed down. Now it's picking up again the guidance from our customers is we will be busy through 2023 .
74
10/03/2021 08:23:40 0 1
bbc
Good for you :)

My small engineering consultancy is also extremely busy and we're recruiting again in a few days. The business climate is bouyant.

Looking further afield, the FTSE250 is at an all-time high, inflation is low, unemployment is around 5% - things could be a lot worse.

It's down to the UK Government's vaccine strategy and management success, probably why they're 13% up in the polls.
75
10/03/2021 08:25:12 9 4
bbc
Meanwhile, we are at the bottom of the G7 recovery list.

How long before we stop referencing G7 because we are only in G10 ?????

Watch this space !!
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
76
10/03/2021 08:28:49 0 1
bbc
"Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem."

Agreed it is an incredibly basic concept, but I'm not sure why you're mocking, are you suggesting that it's not actually true on a fundamental level? If so, the joke's on you I'm afraid.

Are you a fan of 'Corbynomics' or something?
88
10/03/2021 09:14:18 0 1
bbc
I'd mock any comment from retired "I'm alright" grandads to instruct their kids to work harder....
https://www.telegraph.co.uk/news/politics/9483268/Young-Tory-MPs-blame-lazy-baby-boomers-for-Britains-economic-decline.html
73
JBd
10/03/2021 08:23:35 1 0
bbc
I did compound. The latest OECD report has the UK down 9.9% in 2020 and up 5.1% in 2021

0.091 X 1.0051 – 1 = -0.053
77
JBd
10/03/2021 08:29:24 1 0
bbc
Opps Typo.0 .091 x 1.051 - 1 = -0.053 = - 5.3% as original post
103
10/03/2021 10:38:03 0 0
bbc
I assumed the 11% down was for the UK. Mea culpa.
Bear in mind that GDP is not only a factor of private spending but also of public spending financed by borrowing and taxes (which reduce private spend). Countries can "buy" growth. The OECD can only speculate what Governments might do so I'd take their forecasts as no more than that, speculation based on guesswork and assumptions.
67
cb
10/03/2021 07:40:16 9 4
bbc
Perhaps if we managed our money a little better?

£355m a week on track and trace. Why not spend the money on the NHS instead?
Spend on T&T counts in the plus column for GDP growth purposes, as does all public spend no matter how wasteful or beneficial.
81
cb
10/03/2021 08:55:36 3 3
bbc
Come again. How does public spend automatically go IN to GDP growth column?
80
10/03/2021 08:46:52 8 4
bbc
Also,
As Most major global indexes , Dow, Nasdac, Dax, Cac, Euro Stoxx50 and 600 FTSE MIB (italy) are all coming off record highs, the FTSE 100 is still about 16% off.

All the above have suffered Covid effects.

When are the Boom Boom Brexit benefits going to show themselves ??
Spend on T&T counts in the plus column for GDP growth purposes, as does all public spend no matter how wasteful or beneficial.
81
cb
10/03/2021 08:55:36 3 3
bbc
Come again. How does public spend automatically go IN to GDP growth column?
82
Bob
10/03/2021 08:58:12 8 3
bbc
Brighter economic outlook except the UK. Nothing is made here anymore except obscene service industry rip-off profits and kickbacks to politicians to look the other way,
96
10/03/2021 10:17:18 0 1
bbc
Even flogging Renishaw now.
72
10/03/2021 08:15:47 1 0
bbc
Indeed that data is there - for 2020.

This story is about the forecast for 2021, so where's the comparable data in this story for 2021..........?
83
cb
10/03/2021 09:01:40 0 1
bbc
It’s quite easy to find on the OECD website. If you’re that interested. France and Spain above us, Germany and Italy below.
97
OwO
10/03/2021 10:22:11 0 0
bbc
So you agree, sloppy reporting to omit
81
cb
10/03/2021 08:55:36 3 3
bbc
Come again. How does public spend automatically go IN to GDP growth column?
https://www.bankofengland.co.uk/knowledgebank/what-is-gdp - or you can make up your own definition.
38
09/03/2021 21:48:59 8 3
bbc
This is really good news (for a change)

However, Scotland are going to need it...... NS latest blunder which will hit the news very shortly. Huge new tax bill hit to Scottish tax payer: This one is seismic!

www.telegraph.co.uk/politics/2021/03/09/fears-taxpayers-left-exposed-terms-potentially-disastrous-snp/
85
10/03/2021 09:04:47 0 1
bbc
I think you'll find the Gupta/Private Equity/steel mess extends far beyond Scotland.
Question is, Phil (or is it Momentum troll?) will HMG bail them out?
Can they afford to?
Can they afford not to, having based a large part of the Brexit argument on being able to bail out and subsidise BRITISH key industries free of EU intervention?
https://www.bankofengland.co.uk/knowledgebank/what-is-gdp - may help understanding of what GDP actually is, which is not what some assume it is.
91
cb
10/03/2021 09:26:42 3 1
bbc
You wrote that ALL public spending goes into GDP growth. That is not correct. An example would be the furlough scheme. That is govt spending but does not result in increased GDP.
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
——
Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem.
87
10/03/2021 09:12:07 0 0
bbc
"work hard and be productive"
... a recurrent phrase heard from retired, do-nothing grandads about their kids.
But reference Kwasi's report that it was "lazy" and complacent baby boomers that caused Britiain's economic decline with poor work ethics and missed opportunities

https://www.telegraph.co.uk/news/politics/9483268/Young-Tory-MPs-blame-lazy-baby-boomers-for-Britains-economic-decline.html
76
10/03/2021 08:28:49 0 1
bbc
"Simple Simon’s School of Economics says put your hands on your head and sing three choruses of Jerusalem."

Agreed it is an incredibly basic concept, but I'm not sure why you're mocking, are you suggesting that it's not actually true on a fundamental level? If so, the joke's on you I'm afraid.

Are you a fan of 'Corbynomics' or something?
88
10/03/2021 09:14:18 0 1
bbc
I'd mock any comment from retired "I'm alright" grandads to instruct their kids to work harder....
https://www.telegraph.co.uk/news/politics/9483268/Young-Tory-MPs-blame-lazy-baby-boomers-for-Britains-economic-decline.html
110
10/03/2021 14:41:55 0 0
bbc
What are you on about now? Not that it's remotely any of your business (nor does it excuse your ageist comments), but I'm Gen X, Chief.

Maybe if *you* worked harder you'd actually achieve something, rather posting endless bile and dribbling nonsense on here, with no-one caring one jot? Might help with that chip on the shoulder.
29
09/03/2021 20:33:32 4 9
bbc
As long as everyone is prepared to work hard and be productive, we should be able to beat the competition.
Everyone is looking for a bargain but that sure is difficult to do, if our manufacturing costs are to high and it is not up to the expected quality .
90
10/03/2021 09:24:44 5 2
bbc
It would be interesting to know how much the fondness of HMG for Management Consultants- Deloitte, etc - and outsourcers - Serco, etc - is boosting the UK economy
Are taxpayers in fact funding the current recovery?
95
10/03/2021 10:16:22 2 2
bbc
£6,600 a day for some. Equivalent to £1.75 million a year.
https://www.bankofengland.co.uk/knowledgebank/what-is-gdp - may help understanding of what GDP actually is, which is not what some assume it is.
91
cb
10/03/2021 09:26:42 3 1
bbc
You wrote that ALL public spending goes into GDP growth. That is not correct. An example would be the furlough scheme. That is govt spending but does not result in increased GDP.
102
10/03/2021 10:36:03 0 0
bbc
GDP is calculated either by income or by expenditure. In the income approach, furlough monies would be counted directly. In the expenditure approach what people spend their furlough money on would be counted. Both ways, furlough money end up in GDP.
92
10/03/2021 10:12:12 0 2
bbc
Among the developed economies, the largest shortfall on this measure is for Spain, followed by the UK, at more than 4%.

At least we beat Spain
94
10/03/2021 10:15:25 3 0
bbc
Shortfall in what?
36
09/03/2021 21:29:06 6 3
bbc
The UK has high employment, because one hour a week counts as being employed.
93
10/03/2021 10:12:33 0 0
bbc
France has higher unemployment whatever measure you use. If you look at the Eu data which compares like for like statistics it clearly shows that France has doubled the unemployment rate of the UK.
92
10/03/2021 10:12:12 0 2
bbc
Among the developed economies, the largest shortfall on this measure is for Spain, followed by the UK, at more than 4%.

At least we beat Spain
94
10/03/2021 10:15:25 3 0
bbc
Shortfall in what?
98
10/03/2021 10:22:26 1 0
bbc
Read the article, it doesn't take long & it's explained in simple terms.
90
10/03/2021 09:24:44 5 2
bbc
It would be interesting to know how much the fondness of HMG for Management Consultants- Deloitte, etc - and outsourcers - Serco, etc - is boosting the UK economy
Are taxpayers in fact funding the current recovery?
95
10/03/2021 10:16:22 2 2
bbc
£6,600 a day for some. Equivalent to £1.75 million a year.
82
Bob
10/03/2021 08:58:12 8 3
bbc
Brighter economic outlook except the UK. Nothing is made here anymore except obscene service industry rip-off profits and kickbacks to politicians to look the other way,
96
10/03/2021 10:17:18 0 1
bbc
Even flogging Renishaw now.
83
cb
10/03/2021 09:01:40 0 1
bbc
It’s quite easy to find on the OECD website. If you’re that interested. France and Spain above us, Germany and Italy below.
97
OwO
10/03/2021 10:22:11 0 0
bbc
So you agree, sloppy reporting to omit
101
cb
10/03/2021 10:32:48 0 0
bbc
No. But you agree with me that BBC shouldn’t include all details and assume people that can read an article can do further research if they require further detail.
94
10/03/2021 10:15:25 3 0
bbc
Shortfall in what?
98
10/03/2021 10:22:26 1 0
bbc
Read the article, it doesn't take long & it's explained in simple terms.
34
09/03/2021 21:25:38 6 12
bbc
I won't be working any harder. Quite happy as it is.
99
OwO
10/03/2021 10:26:36 3 0
bbc
And one of the first to use the term "I'm alright Jack" when attacking others, yet here we see it personified.
100
10/03/2021 10:26:58 4 1
bbc
The £37 billion spent on the failed Track and Trace system could have boosted the NHS budget by 13% over two years or funded a 10% pay rise for the next decade or a one off bonus of £15,000 for every member of staff.
109
10/03/2021 11:48:49 1 0
bbc
And the £12´4 billion spent on the failed NHS data base. Scrapped in 2014 (??) amid coments of ecessive consultancy fees and private companies "not delivering"

UK dot Gov does not have the best of records at delivery of large IT projects, on time on budget and fit for purpose !!