Tuesday, 13 May 2008

Ten things to think about

Another list
[just for a moment you thought you'd accidently come to Iain Dale's]

1] Like-for-like sales fell 1.5% in April compared with the same month of 2007.

2] UK house prices could fall "at best" by 5-10% this year, accidentally revealed by a housing minister.

3] A&L announces a £192m write-down

4] Food company could cut 730 jobs.

5] Output prices for sales of manufactured products rose at a rate of 7.5% in the year to April.

6] Oil prices have hit a record just shy of $127 a barrel..

7] The UK economy grew 0.4% in the first three months of the year but down from 0.6% in the last three months of 2007.

8] The number of UK surveyors reporting falls in property prices has risen for the ninth month in a row.

9]Manufacturers are raising prices as they face the strongest cost pressures in over 20 years, a Confederation of British Industry (CBI) survey shows.

10]Mortgage lending to home buyers has hit its lowest level for 33 years .

Ten stories what's the common theme?

They were all lifted from BBC business page. Oh, and all 10 were stories TODAY 13/05/2008.

A tax bribe, however welcome, isn't really an economic strategy. And it isn't going to stop the pain. £2.7 billion pounds spent on an election struggle will only cause many more problems for the future.
Is there any long term plan for dealing with a worsening economic situation?
Anyone know? Or are we just winging it.


Letters From A Tory said...

Long term plan? You must be joking. The only plan is to desperately avoid defeat in Crewe - the rest is immaterial (for now).

roym said...

isnt the idea to use a bit of fiscal policy to provide a stimulus to the slowing economy?

the house price bubble needs to be deflated slowly. overvaluation, while a nice dinner party conversation was running out of control. now we're being told that its harder to get a mortgage because you need a 10% deposit! what a joke. as is the level of hyperbole in the tabloids.

Mark Wadsworth said...

A&L £192m write down against assets of £79,000 million as at 31 December 2007 one-quarter of a per cent. Hmmm.

Mark Wadsworth said...

There is a long term plan: it is to socialize the mess so that a short sharp correction is turned into a Japanese style decades long semi-recession.

Bill Quango MP said...

Now that you mention it...
Ahh, its all becoming clearer.

M said...

I think it's already been pointed out elsewhere, but this tax cut isn't funded from cutting the flabby big government approach to state spending, it's funded from borrowing.

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