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George Osborne Will Pull A Rabbit From The Hat

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The UK’s reported GDP will increase by between three and four percent as a result of the new methodology. That does not mean that there will be a 3-4% growth in the economy overnight, there will be no new money appearing as if by magic, but it will hand George Osborne, no stranger to using accountancy sleights of hand to make his books look healthier, a golden political opportunity to claim:

Britain’s economy is much stronger than it really is and

Britain’s tax to GDP ratio is lower than it is, leaving him with a great opportunity to nibble into the ‘new money’

Britain’s borrowing and deficit as a proportion of GDP are lower tomorrow than it is today

With that in mind, we can expect Q4 2014 and H2 2015 papers hailing Osborne as a great Chancellor as the EU helps him fudge the books. Link

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Andy, Little Britain "I want a rabbit"

Actually I do want a rabbit. That looks like a particularly nice rabbit.

Osborne, on the other hand, with that sneer - looks like that mind-blowingly odious twit called Jimmy Carr.

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It this anything similar to the yanks growth engine...

This week America’s GDP rose by $560 billion, or 3.6%, mainly because the “boundary” that defines what counts as an economic asset was moved.

http://www.economist.com/news/finance-and-economics/21582498-america-has-changed-way-it-measures-gdp-boundary-problems

Apparently counting assets twice is the way to prosperity. Remember to tell the cashier that next time you hand over your tenner....its actually £20, and you demand £13 back on your £7 purchase.

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