Britain Slips Back Into Recession

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Britain Slips Back Into Recession

Post by Guest on Wed Apr 25, 2012 9:04 am

The first official estimate of economic growth so far this year has shown that Britain has fallen into a double-dip recession.

The Office for National Statistics said the UK's economy contracted by 0.2% in the first quarter of 2012.

It follows a 0.3% decline in Gross Domestic Product (GDP) in the final three months of 2011.

The preliminary estimate, which may be revised later, means the UK is back in a technical recession - defined as two quarters of decline in a row.

It is the first double-dip recession since 1975, dealing a heavy blow to the coalition Government.

The data confounded market expectations that the economy would grow by 0.1% in the first quarter from January to March.

The ONS said the fall in GDP was driven by the biggest fall in construction output for three years, while the manufacturing sector failed to return to growth.

Chancellor George Osborne said the economic recovery had been slower than hoped, but that there was no scope to ease up on the Government's austerity measures.

In a statement he said: "It's a very tough economic situation.

"It's taking longer than anyone hoped to recover from the biggest debt crisis of our lifetime.

"The one thing that would make the situation even worse would be to abandon our credible plan and deliberately add more borrowing and even more debt."



Not surprised this load of silver spoon boys couldn`t run a bath

how many U turns ????

how many broken promises ???

http://news.sky.com/home/business/article/16215526

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Re: Britain Slips Back Into Recession

Post by Guest on Wed Apr 25, 2012 1:53 pm

probably still far fewer than labour.

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Re: Britain Slips Back Into Recession

Post by Irn Bru on Wed Apr 25, 2012 7:22 pm

TTS wrote:The first official estimate of economic growth so far this year has shown that Britain has fallen into a double-dip recession.

The Office for National Statistics said the UK's economy contracted by 0.2% in the first quarter of 2012.

It follows a 0.3% decline in Gross Domestic Product (GDP) in the final three months of 2011.

The preliminary estimate, which may be revised later, means the UK is back in a technical recession - defined as two quarters of decline in a row.

It is the first double-dip recession since 1975, dealing a heavy blow to the coalition Government.

The data confounded market expectations that the economy would grow by 0.1% in the first quarter from January to March.

The ONS said the fall in GDP was driven by the biggest fall in construction output for three years, while the manufacturing sector failed to return to growth.

Chancellor George Osborne said the economic recovery had been slower than hoped, but that there was no scope to ease up on the Government's austerity measures.

In a statement he said: "It's a very tough economic situation.

"It's taking longer than anyone hoped to recover from the biggest debt crisis of our lifetime.

"The one thing that would make the situation even worse would be to abandon our credible plan and deliberately add more borrowing and even more debt."



Not surprised this load of silver spoon boys couldn`t run a bath

how many U turns ????

how many broken promises ???

http://news.sky.com/home/business/article/16215526

Hardly a surprise. It was just a question of how long it would take really?

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Re: Britain Slips Back Into Recession

Post by Guest on Wed Apr 25, 2012 8:01 pm

Irn Bru wrote:

Hardly a surprise. It was just a question of how long it would take really?

yes it wasn`t a surprise they where warned this would happen but as usual they make sure there rich friends get a tax cut at the expense of the elderly before there are kicked out on there arse`s again

to deep to fast privatize this, sell off that

Jeeze time travel back to the 80`s ....or Dickensian era take your pick its pretty much the same

And i i don`t even have a DeLorean



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Re: Britain Slips Back Into Recession

Post by Irn Bru on Wed Apr 25, 2012 8:15 pm

TTS wrote:yes it wasn`t a surprise they where warned this would happen but as usual they make sure there rich friends get a tax cut at the expense of the elderly before there are kicked out on there arse`s again

to deep to fast privatize this, sell off that

Jeeze time travel back to the 80`s ....or Dickensian era take your pick its pretty much the same

And i i don`t even have a DeLorean



Cracking reply on the subject of this thread from someone who supports the Tories but can't bring himself to votre for them.

Laughing
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Re: Britain Slips Back Into Recession

Post by Guest on Wed Apr 25, 2012 8:41 pm

Irn Bru wrote:

Cracking reply on the subject of this thread from someone who supports the Tories but can't bring himself to vote for them.

Laughing
i take it you refer to flippy`s feeble contribution Very Happy make it about labor mantra



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Re: Britain Slips Back Into Recession

Post by Irn Bru on Wed Apr 25, 2012 8:45 pm

TTS wrote: i take it you refer to flippy`s feeble contribution Very Happy make it about labor mantra



Well, he did say that he can't bring himself to vote Tory right enough.

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Re: Britain Slips Back Into Recession

Post by Guest on Wed Apr 25, 2012 9:11 pm

Irn Bru wrote:

Well, he did say that he can't bring himself to vote Tory right enough.

he`s singing a new song now eh! lol before the election he was all over the tory`s with support
two years in and already jumping ship must be crap for flippy boy


or is he just a populist joining any bandwagon

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