The UK economy is in recession - official
- Thread starter LessoftheLip
- Start date
Although widely used it's not universally accepted. Here's a discussion on the topic from the Office of National Statistics (with links to a more detailed research paper)
BoroMart
Well-known member
It's widely accepted as a measure, like all metrics it shouldn't be used on it's own to make decisions. The definition is accepted, the interpretation and usefulness of it in a modern economy is open to debate.
viv_andersons_nana
Well-known member
Centrica have just announced that British Gas’ profits increased from £72m in 2022 to £751m in 2023, allowing them to pay out £144m to shareholders. Centrica’s payouts to shareholders now stands at £217m for the year.
It’s beautiful work if you can get it.
The money IS there. It’s being directed upwards, stolen, looted, stuffed offshore. Our economy is being looted as we speak.
Still though, small boats and that.
It’s beautiful work if you can get it.
The money IS there. It’s being directed upwards, stolen, looted, stuffed offshore. Our economy is being looted as we speak.
Still though, small boats and that.
BoroMart
Well-known member
exactly and aligned with the economist guy earlier. I've said for years, we have to tackle wealth distribution, it's the number one problem we face in western society.
It's why I've always felt that free market economics, libertarianism and neo-liberalism are a sham, because without strong governance in place, what happens is wealth makes more wealth, the rich get richer. It's why I strongly believe in inheritance tax, ad strongly dispute the idea of trust funds, offshored wealth and aristocratic inheritance tax avoidance.
It's why I opposed brexit because it was a bonfire of governance, and governance with competing stakeholders is good for balanced policy and law.
It's why I believe in stronger press laws, to stop the uber rich from abusing the press for their own gain.
It's why I believe that big business and billionaire lobbying and funding of policy should be curtailed, possibly even a prisonable offence.
The rich, the elite, the billionaires, and business have far too much power and influence over the state, and economic policies.
Littlejimmy
Well-known member
I've long wondered about the sanity of an economic model which chases infinite growth in a finite system.
Nobby_Barnes
Well-known member
Absolutely, and you have an alternative option so instead of 'wondering' do something about it
ThePrisoner
Well-known member
Gas prices are now back down to where they were two years ago so no doubt the free market will ensure costs to the consumer fall accordingly.
My @rse they will. Nationalise. No compensation.
sherlock
Well-known member
Absolutely, and you have an alternative option so instead of 'wondering' do something about it
View attachment 72035
Are you a technical troll? Or an actual one?
The Ruthsayer
Well-known member
Have you read ‘The Affluent Society’, by J K Galbraith? Interesting background as to how we arrived at this paradox. Written in the late 1950’s but still relevant.
Littlejimmy
Well-known member
No, but I'll certainly add it to my list. Thank you.
ThePrisoner
Well-known member
sherlock
Well-known member
That should be utterly ridiculous, but it's what they did with Rwanda so nothing is off the table...
sherlock
Well-known member
This lunatic government are preparing to cut spending even more to deliver tax cuts
Jeremy Hunt considers reducing spending to fund tax cuts
Jeremy Hunt is looking at cutting billions in public spending to fund tax cuts in his Spring Budget.
www.bbc.co.uk
Stocko
Well-known member
I get them at a canny reduced rate, family discount
Can’t hold them for me though so they have to be in stock.
Yes I’m alright Jack, the same as I was alright when I didn’t have a penny to scratch my ass with, so I done something about it, without any help from you or anyone else.
Nobby_Barnes
Well-known member
They have to be in Stock StockoI get them at a canny reduced rate, family discount
Can’t hold them for me though so they have to be in stock.
Yes I’m alright Jack, the same as I was alright when I didn’t have a penny to scratch my ass with, so I done something about it, without any help from you or anyone else.
Stocko
Well-known member
They doThey have to be in Stock Stocko
Corcaigh_the_Cat
Well-known member
Self made man alert.I get them at a canny reduced rate, family discount
Can’t hold them for me though so they have to be in stock.
Yes I’m alright Jack, the same as I was alright when I didn’t have a penny to scratch my ass with, so I done something about it, without any help from you or anyone else.
sherlock
Well-known member
He’s an absolute hero.
BiggEggo
Well-known member
Germany just became the 3rd largest economy in the world.
Their real standard of living is measured as 20% better off than the average Brit.