DOOM: The Economy

[AtW]

“Businesses most pessimistic about the economy since the Great Recession

Companies face ‘nightmare’ of tax rises, soaring prices and lacklustre growth prospects

Businesses are at their most pessimistic about the economy since the depths of the Great Recession amid a “nightmare” of tax rises, soaring prices and lacklustre growth prospects, a survey shows.

Companies across the UK are also facing chronic labour shortages, while many are finding it increasingly difficult to borrow, according to the ICAEW (Institute of Chartered Accountants in England and Wales).

The problems have left business confidence at its lowest since 2009, the accountancy body said, with construction companies, high street retailers and manufacturers the hardest hit.

Suren Thiru, director of economics at the ICAEW, said a six percentage point increase in corporation tax in April and less energy help from the Government means many companies are facing a “cliff edge” as consumers tighten their belts and the economy slows.

He said: “Businesses are starting 2023 at a really weak point financially.

“The concern is once these taxes start to come in and you also start to see the real impact of interest rate rises over the past year, that could really create a cliff edge moment for a lot of businesses. Many are facing a nightmare situation where all of their costs are going up, their taxes are going up. But at the same time consumer demand is falling away as well.”

https://www.telegraph.co.uk/business...eat-recession/

If I was abroad deciding where to invest then UK won’t make the short list and that’s before New New Liebour gets in…

[SueEllen]

If you were abroad and a tax dodger and/or like to bribe politicians you would come to the UK.

[AtW]

If you were abroad and a tax dodger and/or like to bribe politicians you would come to the UK.

No, I would not - plenty of politicians in other countries to bribe, and lower taxes to actually make money to pay for bribes

[dsc]

Half the UK is on strike, show me a country which has as much groups striking and I'll buy you a tea. This adds to the negative reputation imho as it highlights that things are not going well for whatever reason.

In my industry (engineering mind you with massive staff shortages) pay ranges have been exactly the same for the last 5-6 years, nothing has changed, my wife who works for the council earns pretty much the same as she did when she started 6 or so years ago, considering the inflation, she actually earns less. At the same time pretty much everything is going up, so why would anyone be surprised that tulip is going sideways?

[vetran]

Half the UK is on strike, show me a country which has as much groups striking and I'll buy you a tea. This adds to the negative reputation imho as it highlights that things are not going well for whatever reason.

make it a Ricard.

https://www.euronews.com/travel/2023...january-and-fe

In response, all unions called for a nationwide day of strikes and protests on 19 January. Local and national transport across the country was severely disrupted and more than 1 million took parts in demonstrations.

[Zigenare]

make it a Ricard.

https://www.euronews.com/travel/2023...january-and-fe

Wash your mouth out! You know that kind of tulip isn't going to fit with the "Britain is going downhill and its all the tories fault! If only we were more like other European countries!" rhetoric.

[BlasterBates]

France's GDP growth of 2.6% in 2022 contrasts with stagnation in the UK.

[WTFH]

France's GDP growth of 2.6% in 2022 contrasts with stagnation in the UK.

Wash your mouth out! You know that kind of tulip isn't going to fit with the "Britain is going downhill and its all the remoaners fault! If only we were free from Europe and Jeremy Corbyn!" rhetoric.

[vetran]

France's GDP growth of 2.6% in 2022 contrasts with stagnation in the UK.

Odd the IMF has it as 2.5% compared to our stagnant 3.6%.

Yep its bad the forecasthas our growth only .6% higher than Germany's -0.3%, Europe's powerhouse we are always compared to.

It seems Italy will outgrow Germany again by -0.1%!



We are forecast to be 0.2% behind the Eurozone having lost our paltry .1% lead on 27 European countries.

Imagine all these countries linked together with the same currency & rules behaving so differently.



The real figures however suggest we grew more than our competitors for a number of years. The eurozone only caught up year on year in Q2 2022.

Our performance is comparable to the USA & Japan and 1.5 times Germany in Q3 22.



lies, lies and Blasters statistics?

[dsc]

We are forecast to be 0.2% behind the Eurozone having lost our paltry .1% lead on 27 European countries.

I know I shouldn't bite, but...your ranking based on 2023 forecast has UK as third from the end, also 0.2% difference when we are talking 0.3% TOTAL increase / decrease is pretty significant wouldn't you say?