Doom mongers wrong again.

[papasmurf]

Is that the reading of the runes from the compost heap?

Reports I take seriously either claim we are heading for recession, or that we should manage to dodge one — crunch time is forecast to be the end of the year...

Locally I suspect the crunch for a largish number of businesses will be March/April this year. (Several have already closed permanently due to it just being no longer viable due to increased costs. )

[patman post]

I thought that we were in recession, with Christmas cancelled and Tiny Tim instead of a turkey.

So it looks as though we are weathering the storm quite nicely

Is that the reading of the runes from the compost heap?

Reports I take seriously either claim we are heading for recession, or that we should manage to dodge one — crunch time is forecast to be the end of the year...

[Borchester]

• UK economy has 'undeniably a disappointing start to the year' — After releasing data showing the drop in UK business activity, Chris Williamson, the chief business economist at S&P Global Market Intelligence, said: Weaker than expected purchasing managers index (PMI) numbers in January underscore the risk of the UK slipping into recession.

I thought that we were in recession, with Christmas cancelled and Tiny Tim instead of a turkey.

So it looks as though we are weathering the storm quite nicely

[patman post]

The Remoaners list of doom must be getting smaller as their predictions fail to come true, the last one being a recession. November saw a rise in GDP, if only a tiny amount, once again proving the U.K. can stand on its own 2 feet.

Fingers in the ears disregard of what's actually happening and the reciting of untrue mantras is likely to exacerbate the UK's economic woes if it spreads outside hard-core Johnson and Truss supporters.

Three reports from today's Telegraph indicate all is not well

• In the United States, inflation has dropped to just 6.5pc. In Germany, it is gradually easing away, down to 7.9pc. In France, it is down to 5.8pc, while in Japan it is a mere 4pc and in Switzerland only 2.8pc. This week, Britain's inflation rate fell to 10.5pc.

• Public borrowing increased by more than expected last month as the Government ploughed billions more of taxpayer cash into its subsidies for household bills and dealt with soaring debt interest payments.
Net borrowing by the Treasury stood at £27.4bn in December, ahead of economists' predictions of £23.2bn for the month.
It was the highest figure for December borrowing on record and nearly double the £16.7bn borrowed the same time a year earlier.
Public sector net debt excluding public sector banks was £2.5trn or around 99.5pc of gross domestic product (GDP), with the debt to GDP ratio at levels last seen in the early 1960s, barring the pandemic.
Public borrowing more than doubled to £22bn in November, which was £13.9bn higher than the same month a year earlier.

• UK economy has 'undeniably a disappointing start to the year' — After releasing data showing the drop in UK business activity, Chris Williamson, the chief business economist at S&P Global Market Intelligence, said: Weaker than expected purchasing managers index (PMI) numbers in January underscore the risk of the UK slipping into recession.
Industrial disputes, staff shortages, export losses, the rising cost of living and higher interest rates all meant the rate of economic decline gathered pace again at the start of the year.
There were some bright spots in the survey, including improved business expectations for the year ahead and a further cooling of inflationary pressures.
But this is undeniably a disappointing start to the year for the UK, reflecting not just short-term hits to growth such as strike action and the rise in energy costs due to the Ukraine war, but also highlighting the ongoing damage to the economy from longer term structural issues such as labour shortages and trade woes linked to Brexit.

https://www.telegraph.co.uk/business/2023/01/24/ftse-100-markets-live-news-strikes-public-sector-borrowing/

.... and items from today's FT don't make happy reading:

• UK business confidence hits two-year low as recession fears mount

• The Bank of England's inflation problem is even worse than it looks

• British retail sales drop unexpectedly in December

• The Brexit effect: how leaving the EU hit the UK — The UK's recent disastrous "mini" Budget can trace its origins back to Britain's decision to leave the European Union. The economic costs of Brexit were masked by the Covid-19 pandemic and the crisis in Ukraine. But six years after the UK voted to leave, the effect has become clear. In this film, senior FT writers and British businesspeople examine how Brexit hit the UK economy, the political conspiracy of silence, and why there has not yet been a convincing case for a 'Brexit dividend'

https://www.ft.com/uk-business-economy

[Sheepy]

Back in the real world with government borrowing rising at an astounding rate and higher interest debt payments, you can bet it will be self created pain for everyone else.

[Streetwalker]

Result from asking 242 people

What a joke

Union FlagDancing

[Nick]

Nick if you bothered to keep up with News and Current Affairs you would know there is a lot of proof.

Just one of many:-

In hindsight, do you think Britain was right or wrong to vote to leave the EU? – What UK Thinks: EU

Result from asking 242 people

What a joke

[papasmurf]

Supposition with no proof.

Nick if you bothered to keep up with News and Current Affairs you would know there is a lot of proof.

Just one of many:-

In hindsight, do you think Britain was right or wrong to vote to leave the EU? – What UK Thinks: EU

[Nick]

It is Brexit that was wrong and an increasing number of those who voted for it now realise the gravity of their mistake.

Supposition with no proof. 

[papasmurf]

What has any of that got to do with Remoaners being wrong?

It is Brexit that was wrong and an increasing number of those who voted for it now realise the gravity of their mistake.

[Nick]

Boring but true:-

More at link and live links at link:-

QinetiQ, part-owned by Boris Johnson donor Christopher Harborne, wins £80m MoD contract | openDemocracy

19 January 2023, 11.00pm

The man who gave a record £1m donation to Boris Johnson is the largest single shareholder in a UK defence company that secured an £80m government contract this week, openDemocracy can reveal.
Christopher Harborne, a Thai-based businessman and multi-million-pound donor to the Brexit Party and the Conservative Party, made the £1m donation to the Office of Boris Johnson Ltd, a company controlled by the former prime minister.
The donation was made in November and listed on the MPs register of interests last week. It's believed to be the biggest donation to an individual MP in UK history.

What has any of that got to do with Remoaners being wrong?

[papasmurf]

Boring but true:-

More at link and live links at link:-

QinetiQ, part-owned by Boris Johnson donor Christopher Harborne, wins £80m MoD contract | openDemocracy

19 January 2023, 11.00pm

The man who gave a record £1m donation to Boris Johnson is the largest single shareholder in a UK defence company that secured an £80m government contract this week, openDemocracy can reveal.
Christopher Harborne, a Thai-based businessman and multi-million-pound donor to the Brexit Party and the Conservative Party, made the £1m donation to the Office of Boris Johnson Ltd, a company controlled by the former prime minister.
The donation was made in November and listed on the MPs register of interests last week. It's believed to be the biggest donation to an individual MP in UK history.

[Nick]

Given how corrupt the Tories are that comment is a joke.

[Nick]

Those neighbour are all part of the EU though.

And like I said, an entity that isn't needed by any of them to do business. 

[srb7677]

Our nearest neighbours are France, Spain, The Netherlands, Scandinavia, not the EU. It's a corrupt cartel that is not required for us to enjoy a relationship with our neighbours.

Those neighbour are all part of the EU though.