Wednesday, 1 March 2017

UK DOWN - EU UP!

The Telegraph of all papers, has a report about the growth of the eurozone (HERE) which has apparently hit a six year high.  In the same week Reuters says UK consumer morale is dipping as inflation begins to take off (HERE).

It would be a huge irony if after years of crowing that we are growing faster than any other G7 economy, after Brexit we slow down and the eurozone takes off!

The Resolution think tank says the chancellor is on course for a £29 billion windfall in April with the PSBR set to fall to £56 Bn instead of the £68 Bn forecast last November which will, apparently, cause the cumulative borrowing figure over the parliament to fall by £29 Bn (HERE). We are at a high point with unemployment at historic lows and the public finances, although still weak with a £60 Bn deficit, at least showing some resilience. Brexit can only go one way - down!

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