Tory Brexit DOOM™: UK on course for even deeper economic slowdown than expected

[AtW]

Britain's GDP is expected to drop from 1.8 per cent growth last year to 1.5 per cent in 2017 and to 1.4 per cent in 2018, according to PwC

The UK economy is on course for an even deeper slowdown as consumer spending and business investment take a hit from uncertainty surrounding the Brexit negotiations, new research has found.

Britain's GDP is expected to drop from 1.8 per cent growth last year to 1.5 per cent in 2017 and to 1.4 per cent in 2018, according to PwC's UK Economic Outlook.

The professional services firm has downgraded its previous prediction for 2017 when it pencilled in GDP to ease at a slower pace to 1.6 per cent.

Brexit: UK on course for even deeper economic slowdown than expected | The Independent

Where is that promised Brexit recession Brexiters had asked? It's fooking coming soon, better buckle up.

[tiggat]

Who listens to PwC?

[AtW]

Who listens to PwC?

Markets

[BlasterBates]

Great doom post.

[OwlHoot]

Who listens to PwC AtW?

FTFY

[_V_]

Britain's GDP is expected to drop from 1.8 per cent growth last year to 1.5 per cent in 2017 and to 1.4 per cent in 2018, according to PwC

And they know the future how?

Can they please tell us the Lotto numbers too?

[PurpleGorilla]

Who listens to PwC?

Greece

[scooterscot]

1) Reduced growth = less tax receipts

2) Less tax receipts = reduced ability to pay off debt

3) Increased time to pay off debt = bond holders demand more interest

4) QE printing presses warmed up but nothing changes = But we can print our own money unlike Greece scream the Brexiters

5) Ratings agencies observe the struggle and downgrade UK debt = Bondholders demand even more interest.

7) More of the reduced tax revenue is used to pay interest on debt = UK implodes

8) UK goes to IMF for emergency loan

9) Tories blame Labour = May claims victory over a strong and stable Brexit

10) Corbyn becomes PM to clean up the mess

[AtW]

1) Reduced growth = less tax receipts

2) Less tax receipts = reduced ability to pay off debt

3) Increased time to pay off debt = bond holders demand more interest

4) QE printing presses warmed up but nothing changes = But we can print our own money unlike Greece scream the Brexiters

5) Ratings agencies observe the struggle and downgrade UK debt = Bondholders demand even more interest.

7) More of the reduced tax revenue is used to pay interest on debt = UK implodes

8) UK goes to IMF for emergency loan

9) Tories blame Labour = May claims victory over a strong and stable Brexit

10) Corbyn becomes PM to clean up the mess

Cross out #8 - MF gambled all his money away, though Korbyn plans to add VAT on private school fees

[darmstadt]

Greece

And there was everyone thinking it was the banks, the EU and the Germans. Damn, wrong again...