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Imf Cuts Uk Economic Growth Forecast For 2011 To 1.75%

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http://www.guardian.co.uk/business/2011/apr/11/imf-uk-economic-growth-forecast-2011

The International Monetary Fund (IMF) has cut its 2011 growth forecast for the UK economy to 1.75%, its third downgrade in a year.

The cut cements the widely held view that Britain faces a year of low growth and rising unemployment with little prospect of a job-creating recovery until later in 2012. It will increase the pressure on the chancellor, George Osborne, to boost Britain's growth prospects.

The Washington-based agency said on Monday in its half-yearly World Economic Outlook that its lower growth target, down from 2.1% last April, was the result of the UK's "necessary" front-loaded fiscal consolidation which will dampen domestic demand.

Officials at the IMF have immersed themselves in analysis of the financial crisis and the best way for countries to recover after failing to warn of the housing bubbles in the US, UK and other parts of Europe prior to the banking crash.

Major implications in down grading growth as the whole austerity plan is for growth to pay for the cuts, lower growth, lower tax revenues and will undoubtedly mean the govt running a larger deficit meaning the debt mountain gets bigger and more taxes go towards servicing the debt.

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http://www.guardian.co.uk/business/2011/apr/11/imf-uk-economic-growth-forecast-2011

Major implications in down grading growth as the whole austerity plan is for growth to pay for the cuts, lower growth, lower tax revenues and will undoubtedly mean the govt running a larger deficit meaning the debt mountain gets bigger and more taxes go towards servicing the debt.

1.75% Seems to be stronger than most forecasts. 1.5% seem to be the consensus from what I can see. Tax revenue and unemployment will be more important really in terms of reducing the deficit, growth and tax revenue do not always correlate.

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All the "growth" is inflation and outstripped by real (unstatistically fudged) inflation by about 5 fold (or more).

Didn't they do well, all that effort to rig the numbers and this is the result.

No doubt they will still continue to champion that the poisonous cocktail is working.

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All the "growth" is inflation

That's the beauty of numbers.

The cut cements the widely held view that Britain faces a year of low growth and rising unemployment with little prospect of a job-creating recovery until later in 2012.

What's going to turn up later in 2012?

The Olympic Effect?

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That's the beauty of numbers.

What's going to turn up later in 2012?

The Olympic Effect?

Can UK plc really afford to underwrite these games?

I'm sat on the fence (not 100% for, or against the olympics) but did labour seriously do the mathematics to establish the true cost of this event before bidding?

I know it has already provided employment, but for which nationalities?

More debt upon the huge existing debt will probably go unnoticed, but does it provide any cheaper housing in London?.

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Let's see, IMF cut, retail crash, house sales hitting record lows. £ holding up well despite all.

There is no doubt in my mind whatsoever that houses will see at least 15% down this year--perhaps more in some areas.

The Brown dream of never ending HPI is well and truly OVER. I know I could have waited another year but it looks like we exchnage today or tomorrow on a property that has seen a drop of over 30% from peak. If I was no so tired of waiting with pent-up demand to get settled I woud have waited another year. And that is my advice to everyone else--it is not gioing to get any better and there is a possibility of a melt down in house prices ( >50%)

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Can UK plc really afford to underwrite these games?

I'm sat on the fence (not 100% for, or against the olympics) but did labour seriously do the mathematics to establish the true cost of this event before bidding?

I know it has already provided employment, but for which nationalities?

More debt upon the huge existing debt will probably go unnoticed, but does it provide any cheaper housing in London?.

Labour maths on the Olympics, it went something like this.

First claim it would cost £3bn, when bidding.

Win the games then the costs increases to £4bn.

A few months later it's revealed the cost will be nearer £6bn.

Then the truth comes out it will be nearer £9bn.

We then get the final bill which hopefully will be around £12bn.

Bargain.

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Let's see, IMF cut, retail crash, house sales hitting record lows. £ holding up well despite all.

There is no doubt in my mind whatsoever that houses will see at least 15% down this year--perhaps more in some areas.

The Brown dream of never ending HPI is well and truly OVER. I know I could have waited another year but it looks like we exchnage today or tomorrow on a property that has seen a drop of over 30% from peak. If I was no so tired of waiting with pent-up demand to get settled I woud have waited another year. And that is my advice to everyone else--it is not gioing to get any better and there is a possibility of a melt down in house prices ( >50%)

Don't look back, RB. We've all waited long enough.

I don't see prices rising for a LLLOOOONNNGGG time to come. There's no rush. For those with small deposits, keep saving. For those with STR funds, you can afford to do what you like.

For those who are over-indebted with crippling mortgages they cannot afford, get out while you can... although I suspect it may already be too late.

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Labour maths on the Olympics, it went something like this.

First claim it would cost £3bn, when bidding.

Win the games then the costs increases to £4bn.

A few months later it's revealed the cost will be nearer £6bn.

Then the truth comes out it will be nearer £9bn.

We then get the final bill which hopefully will be around £12bn.

Bargain.

The Olympics formula is a simple one:

Original estimated cost X 7 = Actual cost.

They always fail to factor fiddle, kickbacks, extortion and trouser lining.

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Can UK plc really afford to underwrite these games?

I'm sat on the fence (not 100% for, or against the olympics) but did labour seriously do the mathematics to establish the true cost of this event before bidding?

I know it has already provided employment, but for which nationalities?

More debt upon the huge existing debt will probably go unnoticed, but does it provide any cheaper housing in London?.

I believe the cost estimate was £50 billion. Arguably the Olympics can be beneficial such as the Beijing Olympics, to be a proper host city China had to put in a lot of infrastructure, which it wanted to do eventually anyway. It also carried out goals it had anyway like shutting down coal plants near Beijing, and moving them out to the hinterland.

Something London should do is construct huge amounts of cheap housing for athletes and press and co, for the games, then use it as council housing when the games finish. Its all in how the money is spent.

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Labour maths on the Olympics, it went something like this.

First claim it would cost £3bn, when bidding.

Win the games then the costs increases to £4bn.

A few months later it's revealed the cost will be nearer £6bn.

Then the truth comes out it will be nearer £9bn.

We then get the final bill which hopefully will be around £12bn.

Bargain.

Labour Maths on Olympics

We're entering a golden age of Banking, Freds corporate taxes will cover it in a week, what could possibly go wrong

Edited by Tamara De Lempicka

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Something London should do is construct huge amounts of cheap housing for athletes and press and co, for the games, then use it as council housing when the games finish. Its all in how the money is spent.

I think a lot of money was spent buying land.

The cheap housing (athlete's village) had to be downsized, because not enough property developers wanted to join in and profit from 'the legacy'.

I believe other legacy projects - some media lab in Hackney - were cancelled.

At the time, Tessa Jowell called it a '6bn boost for jobs'. In fact the operation depends upon huge numbers of volunteers. They are still looking for them. I think you get a free baseball cap and a flag to wave.

But foreign visitors will be able to marvel at the stabbing fields of Stratford and realise that Britain is a prime tourist destination.

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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