Is it Brexit? Or the total, comprehensive, egregious incompetence of the current iteration of the "Conservatives" (they are nothing of the sort).Widespread reporting last week on a Goldman Sachs report showing Britain has underperformed since Brexit.
From MSN:
Nearly six years after the UK voted to leave the European Union, a detailed study by Goldman Sachs has shed light on the economic ramifications of Brexit, revealing a nation grappling with trade declines, investment slumps, and labor market challenges. The influential investment bank’s analysis indicates that Britain’s economy is considerably worse off than it would have been within the EU, a stance contrasted by government claims of economic benefits derived from Brexit.
The Goldman Sachs report suggests that the UK’s Gross Domestic Product (GDP) could be up to 5% smaller than if the country had remained in the EU. This disparity arises from an amalgam of factors attributed to Brexit, including a slump in trade and investment, as well as an upheaval in the labor market due to altered migration flows. The bank’s chief European economist, Sven Jari Stehn, noted that while UK’s GDP per capita has increased just 4% since the Brexit referendum, compared to an 8% increase in the eurozone and a 15% increase in the U.S., UK consumer prices have also surged by 31%, compared to smaller rises in the U.S. and the eurozone.
Trade has particularly underperformed, with Goldman Sachs estimating that UK goods trade has lagged behind other advanced economies by around 15% since the vote to leave. Furthermore, business investment has also faltered, falling “notably short” of pre-referendum levels. The inflow of immigrants from the EU, once a significant contributor to the UK workforce, has plummeted, with the labor pool now predominantly comprised of a less economically active cohort of non-EU migrants, primarily students.
The study acknowledges the complexity of isolating the economic impact of Brexit from other concurrent global events, such as the Covid-19 pandemic and the energy crisis of 2022. Even the government, while advocating for the economic merits of Brexit, recognizes the headwinds faced, citing a potential £100 billion investment unlocked over the next decade through the repeal of EU financial services law.
Despite these challenges, the UK government remains steadfast in its assertion of the positive growth prospects post-Brexit. The government remains optimistic about Brexit, asserting that it has positively impacted the economy. Kemi Badenoch, the Business and Trade Secretary, recently shared a series of purported Brexit advantages on Twitter. She said that “since 2016, we’ve grown faster than Germany, Italy, and Japan” and claimed that UK exports are up. She added: “The reality is Brexit is a strategy for the next few decades. We’re only four years in and it is going well. Of course there are challenges, but we are working through them.”
Yet, the Goldman Sachs study suggests that the cost of living has escalated disproportionately in the UK since the Brexit vote, which, coupled with the economic underperformance, paints a less optimistic picture. While some analysts argue that the impacts cited by Goldman Sachs may be overstated, with other factors such as Covid and the energy crisis playing significant roles, there is consensus on the apparent economic gap that has emerged since Brexit.
Is it Brexit?
I suspect the morons at the helm. As far as the UK is concerned the most alarming thing is that the current mob of morons is about to be replaced by a worse mob of morons at the next election.Sounds like Goldman Sachs are putting it down to Brexit.
I'd like to read the report, but I can't find a copy.
in Great Britain, things are not that great, and into another technical recession.
View attachment 171179
Labour Party HQ quickly called it the ‘Rishi Recession.’
There was, however, some good news on the inflation front.
View attachment 171180
a measurable month-on-month decline in the headline rate but with a stubbornly sticky level of inflation in services, at 6.5%.
I'm less optimistic, will be watching closely in view of my comments in other threads.I don't follow UK politics, but read this article today and it sounds like a new face might get in.
Which may be good IMO, way too much social class distinction over there, the have's and the havenots are alive and well.
From the article: He may be a breath of fresh air, time will tell.The first Labour leader with a 'Sir' in front of his name may soon be charged with saving the United Kingdom
UK cities are broke, utility prices are sky high and the cost of living is barely affordable. Sir Keir Starmer is likely to become just the fourth Labour leader to win an election. If he does so, his task is monumental.www.abc.net.au
Sir Keir often publicly discusses his working class roots and has frequently denounced snobbery in Britain's political discourse.
Baldwin believes Sir Keir's contempt for posh Britain, despite being a knight and an Oxford-educated former barrister, is genuine.
"He comes from a small village in Surrey, the sort of place you've never really heard of, unless you've lived there yourself," Baldwin said.
"His dad felt the sting of people looking down at him because he worked in a factory. I think that's part of what drives Starmer now.
"He's the first Labour leader in my lifetime to talk a lot about class and snobbery."
Sir Keir is seen by many political pundits as moving the Labour Party to the centre.
well he made it to #10I don't follow UK politics, but ...it sounds like a new face might get in.
Sir Keir is seen by many political pundits as moving the Labour Party to the centre.
Sounds like Gerry Mander is alive and well.well he made it to #10
the move to 'the centre' has been helped by the marginalising of the rabid left in Labour, Corbyn was expelled as were thousands of card carriers.
But the democratic system is curious, to say the least. One review pointed out the following:
" ...The Labour Party won a thumping landslide, winning 411 seats out of 650, whilst only getting 33.7% of the popular vote.
In fact, Labour’s total vote of 9,699,879 was less than Jeremy Corbyn got in 2017.
In 2017, the Labour Party, under the leadership of Jeremy Corbyn, received 12,877,918 votes and won 262 seats, losing the election to Theresa May’s Conservative Party.
Obviously, the above is a consequence ...that a first past the post election system can deliver.
A quick look at the table above reveals that the Reform Party, led by Nigel Farage, got 4,103,727 votes and only 5 seats.
In contrast, the Liberal Democrats got 3,501,004 votes and won 71 seats.
If you’re thinking, have we seen anything like this before, the answer is that we have not.
Never in British electoral history has a party won so many parliamentary seats with such a small share of the popular vote.
Think of it this way.
66% of those who cast their votes, did NOT vote for the Labour Party, and yet the Labour Party won 63% of the seats in Parliament.
London: British police say they have charged a 17-year-old with murder over a stabbing attack that left three girls dead and several more in critical condition. The charges came as the traumatised town of Southport cleaned up after a bout of far-right violence, and agitators fired up by anger and misinformation clashed with police near the prime minister’s residence in London.
Merseyside Police said the teenager, who has not been named because of his age, faces three counts of murder and 10 of attempted murder over people injured in the attack during a Taylor Swift-themed summer holiday dance and yoga class.
He is due to appear in court in Liverpool later on Thursday.
About two dozen children were attending the summer vacation workshop on Monday when an attacker with a knife burst in. Alice Dasilva Aguiar, aged nine, seven-year-old Elsie Dot Stancombe and six-year-old Bebe King died from their injuries. Ten other people were injured, among whom five girls and two adults are in critical condition.
Yes I didn't want to make it racial, or religious, just about the outrage at kids getting senselessly attacked.Sounds familiar(note the bolds) wasn't the footage of the young bloke in a mask a white fella?
Yes I didn't want to make it racial, or religious, just about the outrage at kids getting senselessly attacked.
My bad, it has to be about loonies, not about outrage at the atrocity.
Can't get in the way of the narrative.
There is a internal influence affecting our youth, which is radicalising them, pretending it isn't happening and labelling people who are concerned about the problem is actually inflaming it.It not a narrative outside of the misinformation but race will come into it during hard times and ATM much of the UK is on its knees fertile ground for far right recruitment and violence blaming all evil on immigrants similar to the US and the Nazis.
There is a internal influence affecting our youth, which is radicalising them, pretending it isn't happening and labelling people who are concerned about the problem is actually inflaming it.
I thought it would be unheard of, until recently.I talk to a lot of youth through surfing I don't see any radicalization at all in fact the opposite most actually care for each other some thing that didn't happen much in my youth which was closer at times to the hunger games.
What I do see with problem kids is dysfunctional homes and often lower income families which the UK has a serious issue with ATM.
It heartning to see the broarder responce far outweighing in numbers to nazi fellow travllers.It not a narrative outside of the misinformation but race will come into it during hard times and ATM much of the UK is on its knees fertile ground for far right recruitment and violence blaming all evil on immigrants similar to the US and the Nazis.
When it happened in Iran they killed all the useful idiots in the first wave.Keep calm and carry on. A long way from revolution.
No sign of far-right disorder fails as thousands of counter-protesters line streets
Anti-fascist, anti-racism protests were also held in Finchley, Brentford, Lewisham, and towns and cities across the UKwww.standard.co.uk
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