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Uk Economic Growth To Fall To 2.4% In 2015, Says Ey Item Club

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The UK economy will grow by 2.4% in 2015, well below the 3.1% growth expected this year, forecasting group EY Item Club has said.

It says the forthcoming election and accompanying political uncertainty will hold business back from investing.

Growth will also be constrained by worries about the eurozone and the Ukraine conflict, EY Item Club says.

The 2.4% figure is well below forecasts issued by the Bank of England, the CBI and the International Monetary Fund.

http://www.bbc.co.uk/news/business-29680253

So, with a low wage economy meaning lower tax receipts on income and lower VAT returns from spending... good luck with balancing them books whilst providing £7bn of tax cuts Davey boy!

:rolleyes:

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I thought a low wage economy created growth and wealth!!!

Yes it does. For the richer sections of society at the expense of the living standards of the poorer sections. ^_^

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EY By Gum Item Club?

The EY Stupid Club. If these clowns are forecasting a significant slowdown then I'd suggest actual recession can't be far away.

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I thought a low wage economy created growth and wealth!!!

No, the wages are not low....we have some of the highest wages in the world...it is the cost of living that is high, namely buying homes and renting homes.....look elsewhere and see what you can buy with an average monthly wage, you could live like a king. ;)

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God knows where that 2.4% is coming from. The wheels falling off the Ponzi schemes in play.....not least residential housing. Meanwhile we cant just carry on borrowing for GDP in the public sector.

No secret why we have been the fastest growing economy in the G7 lately...Osborne on Balls' plan B with austerity shelved and a 7% structural deficit and reflating various Ponzi schemes.

Guess the Tories have given themselves a chance in next year' election by continuing to steal money from the unborn and growth from the next Government term. F%%king cheating thieves and economics right out of Gordon Brown's book.

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