The economic storm clouds darken
Peter Hoskin 12:27pm
The respected Organisation for Economic Co-operation and Development has forecast that the UK economy will shrink by 0.3 percent in the third quarter of this year, and by 0.4 percent in the fourth. In other words, they’re predicting a recession for this year.
Ok, so it’s hardly surprising news. After all, the latest figures from the Office for National Statistics had the economy at 0 percent growth for the second quarter – indicating that we’re already in recession. But it does add weight to the argument that the Tories need to find an alternative to their “sharing the proceeds of growth formula” sooner rather than later.
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Tim Hedges
September 2nd, 2008 1:31pm Report this commentLabour are hardly likely to draw attention to it: 'There's no growth, ha ha'
Marian C
September 2nd, 2008 3:17pm Report this comment“sharing the proceeds of growth formula”
How can you share out zero growth; I'm no mathematician, but even I know that half, or any other percentage of zero for that matter, is still zero.
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