Thread 37 Sunak : Rishi has a plan, right?

[DuncinToffee]

Or back to square one?

Previous thread

https://www.mumsnet.com/talk/_chat/4991119-sunak-created-by-ai?page=40&reply=132989726

GDP per person dropped every quarter of 2023. It hasn't grown since Q1 2022

That's 7 quarters - longest unbroken run without per capita GDP growth since records began in 1955

Don't worry, it's only a 'technical' recession, according to Nick Robinson on R4.

Jezza is fine with growth being 'weak' as his priority was to bring down inflation.

Meanwhile Japan is also in a recession as it has had two quarters of negative growth. There was no mention on radio 4 of Japan's recession being a technical recession so it's probably fine.

The BBC has put quite a spin on it, same in their website

What’s a “technical recession”? Surely a recession’s a recession?

I know it's not funny but I've got to the point of snickering mutley laughter every time something else goes wrong. I am almost looking forward to how they will spin this.

What do we think this will mean for the election? My DH is convinced it's going to be in May, I am unsure and think they may wait it out, in hope of a miracle/to cream as much profit for themselves as they possibly can, till October.

I hope its may. Getting very fed up of the increasingly vicious right wing rhetoric going on.

Interestingly I've noticed a lot of reports that originated in Tufton Street being used. I hope labour decides to do something about these think tanks, to make it clear they are partisan not professional.

https://www.google.com/amp/s/amp.theguardian.com/commentisfree/2022/oct/05/rightwing-thinktanks-government-bbc-news-programmes

Yes, I’m sick of it too. My expectation of May has receded a bit this morning as apparently that’s the earliest we can expect to be out of recession. Of course Sunak could decide to go full kamikaze …

I keep thinking about the Faisal Islam/Davos theory

https://twitter.com/faisalislam/status/1748312551580958966

Heard an interesting theory from business leader Brits out here… the autumn election promise is a feint, and earlier (May?) will happen as a result of the “shock” of the ECHR (possibly?) quashing the Rwanda policy and fought on that basis, with an attempt to reenergise Brexit…

I think the Lords are about to kill it. And the by elections too. Fingers crossed very hard.

Getting very fed up of the increasingly vicious right wing rhetoric going on

Yep. Am going to make a concerted effort not to engage. It is not worth it.

You’re right. I really must try to resist - it’s a shame there’s nowhere safe to post as a safety valve. I really appreciate how supportive regular posters to this thread are.

Update on the mainstream coverage of the recession.

According to R4 it's a 'mild' recession.

@BIossomtoes I had never heard the term before either. I first heard Laura Kuensberg refer to it on Sunday ahead of the announcement.

We have to keep challenging some of this stuff though.

I will and i ve just complained to the BBC about their spin on the recession & on R4's News Quiz on fridays, a Tory minister complained about bias against them and the Beeb promptly responding with a show pretty much focused entirely on Labour.... disgusting.

Oh and little mention of the Tory councillor accused of anti semitism, compared to the days of coverage on Labours problems.

Hunt is saying that the 'economy is turning a corner' and growth will strenghten this year

You know id almost forgotten the by elections were today! Oh I do hope they get a good thrashing.

You just know that if this recession was happening under labours watch it would be the worst recession to hit mankind but when its them it's 'technical' and 'mild'.

In the first quarter of recession in 2008 the economy fell 0.1%. Then 0.9% before getting to 2.6% down in the worst quarter.

I don't remember anyone describing thar first quarter as "mild"

https://www.google.com/url?sa=t&source=web&rct=j&opi=89978449&url=www.parliament.uk/globalassets/documents/commons/lib/research/key_issues/key-issues-recession-and-recovery.pdf&ved=2ahUKEwj2-NuAiK2EAxVYQUEAHcadAREQFnoECA4QBg&usg=AOvVaw255HKhGUJp6TczHKI_USFC

No snickering. You’ll upset 30p Lee.

I think Reeves is more of a realist and “in tatters” is a more appropriate description. It’s not so awful that they’re inheriting an economy in shag order, turning it round will kill their reputation for fiscal incompetence stone dead.

Parody Rishi Sunak

I've updated my five promises:
-increase national debt
-inflation at double BoE target
-7.6m on NHS waiting lists
-give Rwanda £400m for nothing
-create a #recession

Key chart here >>

— GDP per head suggests the UK recession really started two years ago

— seven quarters without per person growth

— that’s the longest stretch on record

— full extent of economic decline is only concealed by record immigration

My bolding but it is kind of funny how immigration helped the government.

Wait - so even if they know their regulations will be breached they can't act? Thats a bit mad.

You just know that if this recession was happening under labours watch it would be the worst recession to hit mankind but when its them it's 'technical' and 'mild'.

Oh yes. Labour are held up to a different and higher standard than the Tories

Rishi's Recession

I think that one might stick

Shame it was announced too late for the thread title.

You should send that to Starmer to use in next PMQs. Excellent.

Rachel Reeves called it that in her press conference