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Monthly Archives: June 2010

The UK could lose 1.3m jobs as a result of the Budget

Surprise, surprise! According to the Guardian, a private Treasury assessment of the planned spending cuts says that up to 1.3m jobs could be lost over the next five years. The Guardian says that it has seen a slide from the final version of a presentation for last week’s Budget, which says that: “100-120,000 public sector jobs and 120-140,000 private sector … Continue reading

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UK population rising by 1,000 per day

The population of the UK reached 61,792,000 by the middle of last year. This was an increase of 394,000 or 0.6% on mid-2008 and was equivalent to an average increase of over 1,000 per day. UK population grew by 0.2% per year between 1981 and 1991; by 0.3% per year between 1991 and 2001; and, 0.6% since 2001. It is … Continue reading

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What is the matter with them?

I have just recovered from the Budget this week, as it was even worse than I had anticipated. I keep writing in my blogs that extreme austerity packages are going to damage the economy but George Osborne is just not listening. What’s the point of me writing all this if he is not taking a blind bit of notice. I … Continue reading

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GDP per head in the EU varies between 41% and 268% of the average

Gross Domestic Product (GDP) per inhabitant of the EU27, and expressed in Purchasing Power Standards, varied from 41% to 268% of the average in 2009, based on first preliminary estimates, and just published by eurostat. In Finland, France, Spain, Italy, Cyprus and Greece, GDP per inhabitant was within 10% of the EU average. Ireland, the Netherlands, Austria, Sweden, Denmark, the … Continue reading

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Public sector borrowing fell last month

In the lull before the storm of the next Budget, official figures show that public sector net borrowing fell in May. In fact net borrowing reached £16bn, which was down by 8% on the £17.4bn recorded in May last year. Public sector net debt, shown as a percentage of Gross Domestic Product was 62.2% at the end of May 2010, … Continue reading

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Some good news from the manufacturing sector

Car production rose by 54% in May to 104,365 vehicles, and was up 62.6% over the year-to-date, according to figures released by The Society of Motor Manufacturers and Traders (SMMT). They also announced that the production of commercial vehicles also rose by an incredible 129% in May compared to the same month last year to 10,745, and was up 55.7% … Continue reading

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Mixed messages on unemployment

The unemployment rate for the three months to April 2010 was 7.9% which was an increase of 0.1%. There was an increase in the number unemployed of 23,000 to give a total of 2.47 million out of work. This is a bleak figure which looks set to become even bleaker. Particularly so, given the fact that there are 5.2 unemployed … Continue reading

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Inflation falls faster than expected

The government’s target measure of inflation, CPI, fell from 3.7% in April to 3.4% in May. This was a larger drop than most analysts were expecting. The largest downward push on prices was from food and drinks, but there was also downward pressure from petrol where prices had risen more quickly a year ago, and recreation and culture where there … Continue reading

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UK growth forecast lowered

The new, independent Office for Budget Responsibility (OBR) believes that UK growth will be lower than previously forecast by the last Labour government. It projects that UK GDP growth will be 1.3% this year, and 2.6% next year. This compares with the previous government’s forecast for 2010 of 3.25%.  The OBR also forecasts growth of 2.8% in both 2012 and … Continue reading

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We are all getting older and the government is getting worried.

“The population of the UK is becoming increasingly older.” So says, the introduction to Ageing across the UK which is a section of the 42nd Regional Trends report just published by the Office for National Statistics. I know I’m getting older, but I suppose it must be useful to read that it is now official. Over the last 25 years, … Continue reading

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