Growth estimate was a fairy story

By : Administrator
Published 14th June 2010 |
Read latest comment - 8th July 2010

It shouldn't be a great surprise I suppose, but now it appears things weren't as rosy (!!?!) as claimed by the outgoing goverment.

Analysts reckon the fromer Chancellors prediction of 3% growth was too optimisitic, and we now have an emergency budget to look forward to on the 22nd June.

Theres talk of VAT getting raised, and I doubt there will be little good news for anyone. Guess we shall wait and see.

BBC News - Fiscal watchdog set to downgrade UK growth forecast

Steve Richardson
Gaffer of My Local Services
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Comments
forum avatarfitness-first
8th July 2010 10:59 AM
Of course it's optimistic.

Everything is. Do you really think that inflation is only 2%.

A big part of it is maintaining a perception of confidence and optimism. When the truth eventually cannot be hidden and these two factors are lost, we'll see a deep recession (sorry, "correction").

Easy.

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