The Mudcat Café TM
Thread #162855   Message #3896251
Posted By: Raggytash
29-Dec-17 - 05:56 AM
Thread Name: BS: Post Brexit life in the UK
Subject: RE: BS: Post Brexit life in the UK
From the Guardian article:

"In the week after Chancellor Philip Hammond’s budget outlined the biggest growth downgrade for the UK since the Conservatives came to power in 2010"

"Households continue to feel the squeeze from inflation, prompted by the weak pound since the Brexit vote"

"The OECD confirmed the downbeat long-term outlook on Tuesday as its latest assessment of the global economy put the UK at the bottom of the G7 growth table for next year - and only just keeping ahead of Japan as the worst performer in 2019"

“It is hard to avoid the conclusion that the Brexit process – which has added to investment uncertainty and squeezed consumers – is the main reason why the British economy is underperforming so badly at the moment,” he said"

"despite research showing that households are now each £600 a year worse off after the referendum"

"But there are worrying signals for the road ahead. Hammond revealed at the budget a painful downgrade in economic growth of around half a percentage point annually in the coming years"

“There is no reason at all, in my view, to believe any take-off in productivity will happen any time soon,” said Blanchflower, adding: “The economy could grow much more slowly than even the OBR’s horrid forecasts. I am still waiting for any good news from Brexit.”

Yeah, really cheery stuff.