UK officially in recession...

[Startingagainandagain]

Latest stats released show the UK is now officially in recession (Office for national statistic data).

Gaslighting has started in the media by ministers to try to minimise that fact.

Isn't it time to face the facts instead and call a general election?

I know the picture is bleak and any new party in power will need years to try to sort out this mess but something needs to be done...

The UK's decline in the past few decade or so has really been dramatic.

Looked at the German economy recently?

What's that got to do with it? The OP is talking about the UK and not Germany.

Yep I just saw an article on the BBC called "should we care about it?" 🙄 Ffs

Surprisingly enough I am not so invested in the ins and outs of the German economy as I don't live there, have relatives there, pay taxes or have my pension there.

It’s maddening to see how rapid the pace of our decline is getting. One thing is certain, the current system is not working and is slowly killing the Nation.

Well, not just a UK phenomenon. The German economy, especially their manufacturing sector, is in serious decline. This will cause issue for the Eurozone and the EU down the line. We are all in a the same basket, unfortunately.

How would a general election help?

The reference to Germany is because when other European countries are struggling economically, so will the UK. If the UK was in recession and other countries thriving, then blame the government. When all countries around you are also in recession, it is a regional or global issue and any government would struggle.

The UK might physically be islands, but it is still part of the European and global economy

It seems that Jeremy Hunt's idea is to cut public spending even more ( heard on the news today pre this new news about the recession))

The decline in the UK is real and serious. No other European country is in the critical state the UK is in (health service, public sector, institutions, infrastructure, public transport, national morale etc.). The UK goes into a recession from a worrying starting point.

And not just Europe. Japan too. The world order is changing, post war superpowers are declining, others have overtaken or are catching up. Empires decline.

A a business owner his is zero surprise to me, I've had to let go of over 50% of my staff this year. It's going to get worse before it gets batter, it's been looming since the crazy burst of post covid spending.

Hunker down for approx 2 years and we will be good. I have hope.

Where is the gaslighting? This is not the Great Depression!

'The Recession is likely to be mild and short lived with no major changes in the day to day life of consumers' says Sky...

Nothing to see here... move along...

FFS

I thought one of Sunak's key pledges was to grow the economy.

But yay, more austerity, that's worked so well the last thirteen years - what's a few more potholes?

You could go higher taxes but they’re pretty high already

It seems two camps spend more state money / tax or the reverse

Then decline and rise of other countries as in pp, not sure a switch to Labour will do much. Are you expecting it to?

I thought doing something around the SM / CU might help but looks like the Eurozone will struggle too. Not that anyone is offering it

A few really odd replies

@TonTonMacoute ''Looked at the German economy recently?''

What does that have to do with it? I live in the UK and I am looking at the UK recession. Also the UK is the only EU country who managed to inflict something has damaging as Brexit on itself...the elephant in the room.

(by the way your user name is really inappropriate...)

@Moonmelodies ''How would a general election help?''

Really? after all the corruption, mismanagement and lies of the past few years can anyone really still think that the current government is doing a decent job and that we don't need a fresh start?

Then decline and rise of other countries as in pp, not sure a switch to Labour will do much. Are you expecting it to?

Not actually particularly. I'm not particularly a Labour fan either, that's the problem. I dislike all of them and don't have much hope for things changing.

You're right about taxes, it's not like there's much (any!) wiggle room for raising them.
High taxes and ongoing austerity, what fun times.

I went to an economics lecture yesterday.

We’re coming off the back of Brexit, a worldwide pandemic that wrecked supply chains and where billions of pounds were misspent by the govt, Liz Truss’ horrendous budget. I’m wondering what you expect, to be honest.

Glad someone has spoken of the thing that’s not allowed to be spoken about - Brexit.

The Liz Truss budget was the extra turd on top of the turd cake. Higher interest rates at a time when we’re all struggling anyway was just what our depressed economy needed.

We are in a downward spiral, none of our public services seem to be working and austerity is not helping our economic health. We do need a new approach but it’ll take years for improvement.

We forged an industrial revolution, I think our salvation is innovation in forging a green revolution, however due to educational cuts do we have the skill anymore? Brexit has caused a brain drain, it’s going to not help us at all in that respect.

It would clear the path for a new party with new policies, and while that might seem irrelevant in terms of finding money to fix the economy, the main benefit would be the change in mood.

A new government would give a renewed sense of optimism, which would translate into confidence, and confidence is what the financial markets run on.

Also a new government will have different priorities, so there will be policy changes, and as they say, a change is as good as a holiday.

Ah CV I see...

Such a dramatic op with no link ...

It was recently announced that the UK is the first country to achieve a 50% reduction in greenhouse gases (USA 0% reduction, France -23% by way of comparison). Wonder if there’s a link between this and the poor economic performance.

Since 2010 the Tories haven't produced one single thing that has made life better for ordinary people. I honestly can't think of one thing.

Our situation has gradually worsened in ever way since they came to power.

It surely has to be time for a change.

Since 2010 the Tories haven't produced one single thing that has made life better for ordinary people. I honestly can't think of one thing.

Blue Passports!

(though they're more black than blue, and made in a foreign country)

It's odd that cutting public services has been pushed aside in the news in favour of this new recession news, probably so the politicians can say ' oh other countries are having this ' and blame everything else ( thus forgetting to mention the cut in public services )