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How Has The UK Economy Performed Since The Coalition Came To Power?

Tyler Durden's picture




 

On December 5 2013, George Osborne will deliver the Autumn Statement, providing an update on the state of the UK economy. In the address, the Chancellor of the Exchequer will detail the coalition’s plans to reduce the budget deficit and extend the UK economic recovery into 2014. Saxo Capital Markets latest infographic outlines the changes in the economy since the coalition government formed in 2010. In 2010, the Chancellor projected that the coalition would slash the structural budget deficit to zero by 2016. Three years on, net public debt has risen as a consequence of the government’s measures to reduce the deficit. While there is some hope in the figures - and we are sure they will be projected in nothing but glowing glorious ways, Brits are drawing down savings at record rates to cover soaring costs of living and the UK's debt-load is surging. What happens if/when Carney lifts his foot even a little?

 

 

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Wed, 12/04/2013 - 16:05 | 4214806 Billy Sol Estes
Billy Sol Estes's picture

Shitty to say the least

Wed, 12/04/2013 - 16:50 | 4214968 Nothing but the...
Nothing but the truth.'s picture

If you look at the official government published data , it would appear Britains economy is booming. The truth is totally different - company closures, layoffs and drastic cuts in consumer spending. The banksters are doing great - record bonusses this year.

Wed, 12/04/2013 - 16:07 | 4214825 YHC-FTSE
YHC-FTSE's picture

I will refer the honorable gentleman to the answer I gave earlier on this matter.

(We're fucked).

Wed, 12/04/2013 - 16:18 | 4214855 FieldingMellish
FieldingMellish's picture

Which economy?

Kensington bankers: Fucking brilliant, mate.

The other 60 million: Spare a penny?

 

Its not called Treasure Island for nothing.

Wed, 12/04/2013 - 16:20 | 4214866 youngman
youngman's picture

Housing prices in London are doing well...

Wed, 12/04/2013 - 16:50 | 4214971 Rip van Wrinkle
Rip van Wrinkle's picture

When the government owns 20% of every new house sold,is that surprising?

Wed, 12/04/2013 - 16:24 | 4214882 Kreditanstalt
Kreditanstalt's picture

This Beecroft must be an American.  Everything American is looking wonderful to him...

Wed, 12/04/2013 - 16:33 | 4214920 smacker
smacker's picture

Saxo forget that Chancellor "Wide Boy" Osborne changed the way GDP is measured soon after he took office in May/2010.

The old method does not show any growth at all as at July, an ongoing recession in fact: http://moneyweek.com/merryns-blog/the-secret-deflator-used-to-fiddle-the...

Wed, 12/04/2013 - 17:33 | 4215132 Winston Churchill
Winston Churchill's picture

Same as the US according to @shadowstats.com

Its a toss up between the lying shitbags on either side of the pond right now.

I think you are marginally better off over there, but who knows.

When it gets serious, you have to lie(more).

Wed, 12/04/2013 - 18:02 | 4215211 XAU XAG
XAU XAG's picture

Yes things are so great HP laying off 1100!

 

That only leaves 10 working jobs keeping the country on its feet

 

http://digitalmedia.strategyeye.com/article/Ichv5ELHSmU/2013/12/04/hp_plans_to_lay_off_more_than_1100_uk_employees/

Wed, 12/04/2013 - 19:08 | 4215476 The Abstraction...
The Abstraction of Justice's picture

Do HP pay no taxes? Do they have a PC tard office cutlure? If the answer is yes to any of these questions, then good riddance.

Thu, 12/05/2013 - 11:34 | 4217597 Flakmeister
Flakmeister's picture

Looks like austerity a la Rogoff and Reinhart was a crock of shit...

Hardly a surprise....

BTW, it really sucks when your extraction rates for oil and NG go off a cliff (not that it was not expected)....

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