#DespiteBrexit

 

Oh look….

UK third quarter GDP growth revised up to 0.6%

The UK economy grew by 0.6% in the third quarter, according to official figures, faster than previous estimates.

Oh and look…

“ONS statistician Darren Morgan said: “Robust consumer demand continued to help the UK economy grow steadily in the third quarter of 2016.  Growth was slightly stronger than first thought, though, due to greater output in the financial sector.”

Hmmm…the financial sector doing well and growing…how can that possibly be?  Haven’t they all decamped to Frankfurt?

Oh but look at this…..the deficit is out of control and exports are not helped by the fall in the pound…

Separate figures from the ONS showed the UK’s current account deficit rose back towards record levels in the third quarter, with few signs that the fall in the pound in the wake of the Brexit vote has helped to boost exports.

Curious this other far less negative BBC report today says different…the government is on track to meet its deficit target…

Government borrowing falls less than expected in November

Government borrowing fell in November to £12.6bn, down £0.6bn from November 2015, according to the Office for National Statistics.

However, the fall was less than analysts had been expecting.

The monthly borrowing figure had been expected to shrink to £11.6bn, according to an economists’ poll.

Borrowing for the financial year so far is down on last year. From April to November, borrowing, excluding state-owned banks, fell by £7.7bn to £59.5bn.

Despite the smaller-than-expected fall in November’s borrowing figure, economists said the government was on track to meet its less ambitious deficit forecast set out in November’s Autumn Statement.

Then exports…from the BBC itself….do they not take note of their own reports?  No…As we pointed out in the last post about Easton they obviously do not….

Manufacturing exports boosted by pound

Manufacturing exports have received a significant boost from the weakness of sterling, according to the the latest report from the CBI.

The Industrial Trends Survey showed that export volumes grew that their fastest pace for two and a half years in the three months to October.

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22 Responses to #DespiteBrexit

  1. Emmanuel Goldstein says:

    I wonder how long the remoaners like may, hammond and carney can delay the exit process.
    It appears obvious that they are desperate for some bad news on the economy so that they can blame Brexit/fear of Brexit and develop that as an excuse to further delay and even stop the leaving process.
    On Brexit, I cannot find anywhere (pre referendum) that says if the vote is leave it means hard/soft/Norwegian/Swiss/full/red,white and blue/part/or any other of all these brexits we are hearing. It was in or out, perfectly 100% clear.
    I’m one of those who the reMAYners say I don’t know what I’m doing, that I’m too stupid to know what my vote meant. Well, stupid, thick or whatever I still want out, NOW.
    I could do the remainers lie of course.
    I voted to REMAIN but since the referendum I now would vote LEAVE.

       58 likes

    • Oaknash says:

      Emmanuel I have always thought it interesting that in Mays cabinet remoaners have at least as much prominence as brexiteers.

      Looks like a compromise to me and guess what so does “soft” brexit.

      As for Carney his continuing loudmouth “wanna be a rock star” remainer presence as the head of the B of H tells me all I need to know about the teezers commitment to brexit.

      In war or politics they say to get a successful outcome you always need to show full commitment to whatever strategy you decide on. I am afraid all the teezer has commited to is a lack of commitment to anything.

      Maybe she is doing her default habit of sitting on the wall, seeing who shouts loudest then siding with them – nothing would surprise me these days.

         35 likes

      • Grant says:

        Oak,

        Treezer stands for nothing. She is a total void. The first thing she should have done was to sack Carney. He is an utter banker.

           31 likes

        • NCBBC says:

          Quite right.

          If May really meant “Brexit means Brexit”, she would have appointed proper generals to key force points. The BofE is one such force point. A vapid Europhile is not one who should be the head of a front line force.He “flags a surrender” to the EU army.

          But there is hope. We just don’t know what is going on in the minds of Germans. They are far more likely, given their history, to hide their opinion from pollsters. 2017 may well turn out to be the year, when we don’t have to leave the EU, as the EU might not be present.

             23 likes

          • Oaknash says:

            Totally agree Grant – If Carney has been a good boy Santa might even bring him a personality for Christmas maybe a ping pong ball or something equally interesting which would certainly be an improvement on what he currently possesses. But you are right he still is a right banker.

            By the way got a bottle of Jura now is that ok or do I have to pour it down the bog too!

               11 likes

            • Grant says:

              Oak,

              Hey ! Jura is ok , take it easy. And Orwell wrote “1984” on the island and , I am sure, sampled a few drops.

              There is more chance of me drinking Glenfiddich than Carney getting a personality.

                 10 likes

              • Oaknash says:

                Phew Grant just stopped in time – I only poured half of it down the bog then remembered that sound MALT advise was only a click away!

                Got to go now. Going to Dorset in a bit to see the kids (well 20 year olds) for Christmas (or should it be winterval). Hope you and all of the rest of the users on this site have a peaceful and joyous Christmas.

                And thanks David and Co for providing this service.

                Its been good to know that there are still a lot of like minded, people out there who still think for themselves.

                Happy Christmas all !

                   17 likes

                • Grant says:

                  Oak,

                  My Malt advice is free. Have a nice time in Dawrrzett. I am very fond of the West Country and also East Anglia. Poor men’s Scotland !

                  Agree with you about this site. It keeps me sane ! Maybe !

                  Merry Christmas to all.

                     14 likes

                  • Up2snuff says:

                    Grant, East Anglia like Scotland? Phew!

                    Not in my experience. Nothing like it. Not a patch on it. West Country? Yes, I wandered around The Rhins for the first time and found myself thinking ‘This is just like the West Country.’.

                    Cheers!

                       7 likes

                    • Grant says:

                      Up2,

                      Well it is over 40 years since I have been to East Anglia or the West Country so they may have changed and/or my memory is unreliable !

                         4 likes

                • Dadad says:

                  Hear hear !

                     4 likes

          • Oaknash says:

            NCCBC I think Trump could well be a bit of a wild card too especially if the EU carry on overplaying their hand. But at the end of the day I think “the teezers” instinct will to be to carry on playing with the devil you know purely because she has not got the imagination to realise that the rules of the game have changed

               13 likes

    • bworth58 says:

      There is only brexit and pretend brexit

         21 likes

    • Lover of Truth says:

      ‘God bless us, everyone’

         3 likes

  2. Nibor says:

    The future prosperity of our country isn’t down to whether we are in or out of the EU , it will be down to whether the Powers That Be put our country first or do their usual thing ; looking after foreigners .

       30 likes

    • GCooper says:

      I would slightly disagree. The future prosperity of our country depends on the government getting out of the way.

      ‘That government is best which governs least’

         27 likes

  3. Umbongo says:

    It sticks in the BBC craw to tell the punters that the GDP figures have been revised upwards (and that item of news is now relegated to the Business page ie it’s “not that important”). However, the BBC has been caught by its own mendacity, ineffable arrogance and ignorance of sticking to the overall GDP figures rather than – over time and consistently – featuring the more important and useful (IMHO) figures for GDP/head. Mind you, to be fair to the BBC, the rest of the press does much the same.

    Headlining the GDP/head figure which, frankly, is the one that matters, is something the BBC – and the government – studiously avoid. IMHO the population figures are, without almost any doubt whatsoever, grossly understated. This article in the then just about respectable Independent estimated the population in 2007 at 77 million. Similarly who would be in the least surprised that the extent of (net) immigration – not unrelated – is also grossly underestimated?

    I suspect that, although an increase in GDP is “good news” – and thus “despite Brexit” the BBC will tell us about it – the GDP/head figure seems elusive and is not at the forefront of the BBC reports on the nation’s economics. The reason for this is not hard to find: for the BBC this would be part of the evidence that immigration, rather than the Narrative propaganda asserting its benefit to the UK is, in reality, a massive net economic cost. Therefore GDP/head wasn’t mentioned in the BBC article about the upward revision (although it might be elsewhere on the BBC website but life really is too short to use the useless tools the BBC supplies to search for it).

       23 likes

  4. Up2snuff says:

    Well, at risk of being dismissed as a Conspiracy Theorist, I cannot help wondering that both Merkel and Dave want to dismantle the EU.

    Merkel: grew up under Stasi enforced GDR Government and in power saw EU from inside.
    Cameron: grew up under privilege where, I guess, his elders and perhaps he grumbled about the Governments of any colour they had known but especially those of the Left, the whole time from his formative years and into politics under the umbrella of EU membership.

    They both knew that modernisation and reform of the EU would be impossible due to its tri-partite nature. They both knew some of the inner workings that were moving the EU toward becoming a European State, an Empire.

    The only way to halt it was to throw spanners in the works.

    Do it by finance. Germany, the largest contributor, was never going to leave. So Britain, with the strongest economic potential and disproportionate economic clout, always fretting and grumbling on the edge of the EU, with its Civil Service making a total pigs ear of our membership, what better way to hit the income of the EU than offer the people, at last (after 50 years!) a say in whether they wish to be members or not?

    Do it by irrationality. (This couples inextricably and beautifully with finance and economics.) What part could Germany play in influencing the outcome of the British EU-Referendum? Resist reform & modernisation? Certainly. Put the frighteners on during the campaign? Yes, why not? Everyone else is drawn in to do so, too. Even the President of the United States (special relationship with Germany also) does his bit. Throw open Germany’s borders to migrants when the British people were only too aware of illegal migration, genuine refugees (Amin’s Uganda), legitimate workers (Polish plumbers) and an ever increasing population crowding a small island.

    In hindsight, it starts to appear that the unexpected vote to Leave was almost engineered and guaranteed. Dave leaving his Euro tour with requests for reforms until the very last minute when he could have been working – and achieving something substantial – for it for several years. Mutti Merkel throwing open the borders at the last possible opportunity for a specified number – one million – of ‘refugees’ (note: not migrants) to come in to Germany, not the EU.

    Could it be possible they really wanted to break it all along? Six, nine months of dithering post-Referendum with Remainers & Remoaners all chiselling away trying to reverse or postpone it, stiffening good old British resolve as Emmanuel Goldstein demonstrates in his first post above, may just create a few hundred thousand more in favour of Brexit. Perhaps another million? Maybe two! 18 million, 19 million, 20 million – a growing number of voters starting to scream by Easter 2017, we want out. Out! OUT!

    And as far away from the EU as it is possible to be as it implodes!

    Or not? No conspiracy. Just good old political cock-up. Sheer incompetence or hubris or vanity or a mix of generous helpings of all three.

    The EU will face substantial internal crisis from migration, terrorism and banking. The UK will bumble along with Brexit. An emerging world economic crisis will hit the US and China and will spread its influence and exert pressure on the UK economy and its banks that moderate so much world economic activity. We will all wonder whether this is merely an after-shock to 2007-2009.

    By the time it is too late, we will discover that that was a pre-shock. The next one is THE big one.

    Either at that point, the UK in a state of political panic will be sucked back into the EU undertow before it sinks or the EU will become so small and immaterial as worldwide solutions and governance are sought as a means to deal with a growing worldwide crisis, that EU membership will not matter at all.

    For ever.

    Happy Christmas, one and all!

       10 likes

  5. boohanna says:

    BBC Headline in response to increased GDP…..

    “Nation panic buys in wake of catastrophic Brexit result”….

       10 likes

  6. wronged says:

    Happy Christmas to everyone.

    The elderly wife is getting worried about an immaculate conception as we’ve noticed a big star above our house. I’m definitely too old for that sort of stuff, I can’t think of anyone I like anyway. We’ve supposedly got an uninvited Red ‘breaking and entering’ into our house. Being a Blue supporter the last thing I want is someone in a red and white strip coming down my chimney. As Cilla Black would say Surprise,Surprise the BBC TV is rubbish at Christmas – yet again. At least she didn’t buy any of those figs this year. She has bought nuts though which I find impregnable to open. The relatives are turning up, pretending to be jolly and like each other and they’re drinking me out of house and home.They spit all over the food when they talk at the table. And I cannot stand kids arguing over nothing and getting in my way. Thank god for xboxes, it shuts them up. I’ll get presents I don’t need, and buy others presents they don’t need but nearly always it seems to me, to be more expensive. I get cards from people I have no wish to see, even if they were down the road I wouldn’t visit them.We’ve had carol singers knocking the door expecting money when they can’t sing and don’t know the words.Next year I’m going away.
    But at least I can still moan about the Islamist, anti British lefty BBC on this site. Ahhh sanctuary combined with my conversing with intelligent people.Heaven.

    Merry blinking Christmas.

       13 likes

  7. BRISSLES says:

    Ah Wronged.
    I couldn’t be having a more different one ! Just me and the dog, having what I want on the tele, knocking back the brandy as I’ve made up some sausage rolls, and taken another batch of mince pies out of the oven – and they’re all MINE !!!! No commitments or being ‘nice’ to anybody, the dog will be walked and then its battening down the hatches watching wall to wall films in my jammies, oh and the phone is OFF ! Bliss !

    Happy Sausage Roll Day to everyone !

       15 likes

    • wronged says:

      Good on yer Brissles. I’ve got to put up with these relatives until Boxing Day! Some of my relatives must have been part postman/milkman because they have nothing in common with me. After that I’m off to football.Reason is.. apparently .. so they can drink whilst they’re here.That’s it. Blinking Barbara Castle.I buy all the blinking drink and they contribute nothing except for wind after the Christmas meal which takes me and the missus ages to produce. I always refuse to play cards or any other game and I’m not to talk Brexit because one of them is a Remoaner and is easily offended. I might just slip the subject in.

      Roll on Boxing Day, thank God for earphones which I have in constantly.

         9 likes