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Growth

Osborne visits JCB

IMF upgrades UK growth forecast to 2.4% from 1.9%

21 January 2014 14:36

The good thing about economic forecasting is that it’s only right when it’s good news for your party. Today the IMF has upgraded its growth forecast for the UK in… Continue reading

54 Comments
Picture: Carla Millar

Who feels grumpier about the recovery?

25 October 2013 18:15

The Tories were expecting Ed Balls to be a little grumpy today after the ONS’ latest figures showed the economy was growing at its fastest rate in three years. And… Continue reading

111 Comments
GDP Q3 2013

Breaking: Economy grew by 0.8 per cent in Q3

25 October 2013 9:36

As ministers had hoped, today’s first estimate of GDP figures from the Office for National Statistics shows that the economy grew by 0.8 per cent in the third quarter of… Continue reading

84 Comments
George Osborne will be pleased with tomorrow's GDP figures. Photo: Getty Images.

The ‘gangbusters’ economy

24 October 2013 16:53

Tomorrow’s GDP figures are expected to show that the economy is no longer bouncing along the bottom but is now in steady recovery with a second successive quarter of robust… Continue reading

29 Comments
GAFCON-KENYA-WELBY

Justin Welby and the Downing Street grid

21 October 2013 11:14

One man who isn’t on message at the start of the government’s economy week is Justin Welby, who has been warning against excessive jubilation at the end of this week… Continue reading

23 Comments
BRITAIN-POLITICS-CONSERVATIVES

Will David Cameron be sticking his finger up at Ed Balls after the latest service sector figures?

3 October 2013 18:32

Yesterday David Cameron told the Tory conference that he had a new gesture for Ed Balls – a finger pointing upwards to indicate a stream of positive figures on the… Continue reading

36 Comments
Labour Leader Ed Miliband & Shadow Education Secretary Andy Burnham Deliver Press Conference

Wot, no bad news? The bigger problem for Labour

9 July 2013 15:42

Journalists in the Westminster bubble like to point out on Big Speech Days like this that the public couldn’t care a jot about whether Ed Miliband is having a Clause… Continue reading

22 Comments
GDP

No triple-dip: GDP up by 0.3%

25 April 2013 9:30

The UK seems to have avoided a triple-dip recession. According to today’s estimate from the Office for National Statistics, the economy grew by 0.3 per cent in the first three… Continue reading

35 Comments
What do the figures say about Thatcher's economic record? Picture: Getty Images

Margaret Thatcher in six graphs

10 April 2013 12:58

With the debate swirling about Margaret Thatcher’s legacy and her government’s record, it’s worth taking a look at what the cold, hard economic data has to say about her time… Continue reading

54 Comments
The recent fall in productivity is the equivalent of an extra eight-minute cigarette break for every employee, every hour. Picture: Getty Images.

Fag break Britain: four answers to Britain’s productivity puzzle

1 March 2013 11:52

Jobs are being created in Britain, but the economy isn’t growing. In the last year, the number of people in work rose by 2 per cent, but economic output rose… Continue reading

30 Comments
GDP QonQ growth

Worst recovery in history: British GDP shrinks by 0.3 per cent

25 January 2013 9:34

Now we know why David Cameron delivered his Europe speech on Wednesday. It’s time for bad headlines again: the GDP figures just announced show that the British economy is contracting… Continue reading

100 Comments
Robert Chote (L) of the OBR.

We’ve shown forecasts are unreliable, jokes OBR chief

11 December 2012 13:34

‘We’ve done quite a good job at demonstrating the limitations of economic forecasting,’ half-joked Office for Budget Responsibility Chairman Robert Chote at the start of his Treasury Select Committee appearance… Continue reading

7 Comments
This time it's amber. Next time, a red light for Osborne from S&P- unless he can grow the economy.

Citi: Osborne “no longer has credible plans” to tackle debt

7 December 2012 15:24

Britain will lose its AAA rating within 18 months because George Osborne ‘no longer has credible plans to put the debt/GDP ratio on a stable or declining path’ according to… Continue reading

49 Comments
Picture: Getty Images

The Autumn Statement in 7 graphs

6 December 2012 18:18

1. Growth evaporating. The Office for Budget Responsibility once again downgraded its growth forecasts for 2012-13 and, for the first time, also did so for 2014-16. Despite that, the OBR… Continue reading

25 Comments
The Osborne austerity has meant core spending cut by just 3pc over 3 years. Debt is soaring - and voters who wanted him to fix all this will be deeply unimpressed in 2015.

Autumn Statement: Downgrades R Us

4 December 2012 13:45

How much trouble is George Osborne in? We don’t need to wait until his mini-Budget tomorrow, we already know most of it. And we’ll enter that peculiar Budget game, where… Continue reading

15 Comments
Picture: Getty Images

More left the UK for work in the last year than came here for it

29 November 2012 17:52

Net migration to the UK from April 2011 to March 2012 was 183,000, down by a quarter on 242,000 the year before. That’s the headline figure from today’s Office for… Continue reading

79 Comments
David Cameron, the man who delayed the decision on Heathrow for 3 years, calls for an end to 'risk averse' bureaucracy. Image: Getty

The gap between what David Cameron says and what he does

19 November 2012 9:18

David Cameron (and a host of other politicians, including Ed Miliband, Vince Cable and Boris Johnson) will address the CBI’s annual conference this morning. Cameron’s widely trailed speech is a… Continue reading

41 Comments
Lord Heseltine publishes his growth review for Number 10 today. Picture: Getty

Lord Heseltine blasts government’s growth strategy

31 October 2012 9:13

Appointing Lord Heseltine to lead a review of the government’s growth plan was a risky decision as not only was he always going to say exactly what he thought, but… Continue reading

30 Comments
Vince Cable has been vocal about protecting his department's budget from further cuts. But he hasn't succeeded in doing so, unlike his Tory colleagues. Picture: Getty

‘Meeting? What meeting? I wasn’t there!’ Vince Cable forgets key growth committee

30 October 2012 16:23

Business Secretary Vince Cable bewildered a select committee this morning by telling members that a new sub-committee, the Growth Implementation Committee, was yet to meet, before later backtracking and announcing… Continue reading

11 Comments
Ed Balls has no choice but to defend his economic record of the past. Photo: Getty Images.

Can Ed Balls leave his past behind?

25 October 2012 20:24

A large part of the Tory message at the next election will be ‘don’t let Labour ruin the economy again’. One of the things that will help the Tories make… Continue reading

83 Comments
GDP growth isn’t actually all that good a predictor of income growth for ordinary working households. Picture: Getty

When a growing economy still feels bad

25 October 2012 11:34

David Cameron was right; the good news has kept on coming. This morning’s first estimate from the ONS puts GDP growth in the third quarter at 1.0 per cent. Cue… Continue reading

50 Comments
The IMF has cast more doubt on George Osborne's ability to meet his debt target. Picture: Getty Images

IMF: Anatomy of a downgrade

9 October 2012 16:09

Growth forecast downgrades should come as no surprise these days, but when they come from the IMF they naturally command a fair bit of attention. In fact, the IMF’s downgrades… Continue reading

11 Comments
The IMF now says that UK GDP was significantly above potential from 1999 to 2008. Picture: Getty Images

The poverty of economics

9 October 2012 13:36

The IMF’s growth downgrades will make tomorrow’s newspaper headlines but the more striking point is its decision to massively rewrite British economic history. As Citi’s Michael Saunders notes (PDF), the… Continue reading

26 Comments
Bank of England figures show lending is not picking up. Picture: Getty Images

Another growth plan falters

1 October 2012 11:56

It seems that yet another coalition growth scheme is falling flat on its face: this time, Sir Mervyn King’s ‘Funding for Lending’ brainwave. The theory was that the Bank of… Continue reading

25 Comments
Vince Cable made clear yesterday that he has his eye on Michael Fallon as much as the new Business Minister has his eye on his boss. Picture: Getty.

‘Nobody likes being in coalition’

10 September 2012 8:57

The coalition’s leaders like to stick to the line that the partnership is professional and business-like when they describe how policy is made. Newly-appointed business minister Michael Fallon struck a… Continue reading

11 Comments