fellow Posted April 18 Share Posted April 18 (edited) British economy hammered by second IMF downgrade in three months https://www.telegraph.co.uk/business/2024/04/16/uk-workforce-growth-driven-migrant-labour-imf-report/ Quote Britain’s economic prospects have been downgraded by the International Monetary Fund (IMF) for the second time in three months as it warned the country had become dependent on foreign-born workers for growth. The fund said that the UK is at risk of becoming trapped in a prolonged period of weak growth and stubborn inflation, as it warned of zero growth this year once increases in the population are taken into account. IMF analysis showed growth in Britain’s workforce had been powered entirely by immigrant labour since 2019. It came as official figures show that the number of workforce dropouts claiming long-term sickness had surged to a fresh record high. More than 2.8m people now say they are too ill to work, the highest number since records were first collected by the Office for National Statistics (ONS). The IMF on Tuesday downgraded its forecasts for UK growth for the next two years, even as it hailed a brighter global outlook. Its World Economic Outlook showed the global economy is expected to expand at a faster-than-expected pace of 3.2pc this year. However, the British economy is expected to expand by just 0.5pc in 2024 as “lagged negative effects of high energy prices wane”. This is slightly lower than the IMF’s predictions both in January and last October, and follows growth of just 0.1pc in 2023. It is also the second weakest growth rate in the G7 after Germany. While the IMF predicted a rebound to 1.5pc in 2025, this was down from a forecast of 1.6pc made in January and 2pc last October. Edited April 18 by fellow Quote Link to comment Share on other sites More sharing options...
hurlerontheditch Posted April 18 Share Posted April 18 Brexit really delivered for the country Quote Link to comment Share on other sites More sharing options...
Extreme_biker0 Posted April 18 Share Posted April 18 IMF encouraging more immigration then, I suppose? Do other solutions exist? Quote Link to comment Share on other sites More sharing options...
Stewy Posted April 18 Share Posted April 18 1.6% to 1.5%. That'll be noticeable then. 😆 Quote Link to comment Share on other sites More sharing options...
winkie Posted April 18 Share Posted April 18 22 minutes ago, Stewy said: 1.6% to 1.5%. That'll be noticeable then. 😆 You are funny.....anything going the right way for you 0.01 would be noticeable and you would make sure all will hear it and know about it. Quote Link to comment Share on other sites More sharing options...
Stewy Posted April 18 Share Posted April 18 2 minutes ago, winkie said: You are funny.....anything going the right way for you 0.01 would be noticeable and you would make sure all will hear it and know about it. Hmmm...didn't I imply +0.8% for HPIs yesterday is still on the Plateau 🤔 Quote Link to comment Share on other sites More sharing options...
Dreamcasting Posted April 18 Share Posted April 18 Plenty of public sector workers claiming that they're "too ill" to work whilst collecting their pay cheque month after month. Not that anyone would miss them if they were at work as productivity is the square root of zero anyway. I'm also sure those bumper benefit increases are supporting the notion that work doesn't pay after all. Quote Link to comment Share on other sites More sharing options...
Far Canal Posted April 18 Share Posted April 18 39 minutes ago, Dreamcasting said: Plenty of public sector workers claiming that they're "too ill" to work whilst collecting their pay cheque month after month. Not that anyone would miss them if they were at work as productivity is the square root of zero anyway. I'm also sure those bumper benefit increases are supporting the notion that work doesn't pay after all. https://www.gov.uk/statutory-sick-pay Quote Link to comment Share on other sites More sharing options...
Dreamcasting Posted April 18 Share Posted April 18 9 minutes ago, Far Canal said: https://www.gov.uk/statutory-sick-pay Most public sector workers can go on the sick for months at a time on full pay. Eventually half pay kicks in, but the idea is to have a couple of clean years until the clock "resets" rinsing the system again... and again.... and again Quote Link to comment Share on other sites More sharing options...
Maghull Mike Posted April 18 Share Posted April 18 Quote Link to comment Share on other sites More sharing options...
Fromage Frais Posted April 18 Share Posted April 18 (edited) the good news is that despite all the problems they are clear problems. state to large too much spending to inefficient to many illegals costing money to many people abusing a system The bad news in the absence of a government willing to get real its going to be made for them via some for of crises. You can see it now..... Dear people of the UK UNEXPECTEDLY after years of spending too much, working too little and putting thousands of people in hotels on the taxpayers expense..... we have run out of money and now either face printing hyperinfaltion or deflationary collapse. Some poor bugger will have to come and do it all at once and then bee deemed evil. Edited April 18 by Fromage Frais Quote Link to comment Share on other sites More sharing options...
Maghull Mike Posted April 18 Share Posted April 18 13 minutes ago, Dreamcasting said: Most public sector workers can go on the sick for months at a time on full pay. Eventually half pay kicks in, but the idea is to have a couple of clean years until the clock "resets" rinsing the system again... and again.... and again Thats me! Been off for over a year, 6 months on full pay (1st 3 months with any shift allowances) 6 months on half pay, however if you have to drive a great distance (95 miles a day) you save on that cost. There for 12 months on almost full pay.............am zero pay right now await final pay off. Quote Link to comment Share on other sites More sharing options...
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