According to the ONS the UK economy shrank 0.1% in January.
There has however been some progress.
Reeves is no longer blaming the Tories. The contraction is now due to global issues. But still absolutely nothing to do with the UK government.
So much for the “Growth Mission”. |
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The UK Business Confidence Index (BCI), which measures business sentiment, contracted significantly in Q4 2024, falling to +0.2, its lowest level since Q4 2022 and below the historical average of +5.2
Housing starts down
Housing completions down
Car sales down
Retail and online down
Unemployment up
Inflation up
Bank rate reductions slower than anticipated
More businesses closing than opening
Business growth outlook halved |
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"The UK Business Confidence Index (BCI), which measures business sentiment, contracted significantly in Q4 2024, falling to +0.2, its lowest level since Q4 2022 and below the historical average of +5.2
Housing starts down
Housing completions down
Car sales down
Retail and online down
Unemployment up
Inflation up
Bank rate reductions slower than anticipated
More businesses closing than opening
Business growth outlook halved "
Well that was easily predicted within minutes of reeves budget!
In typical labour fashion they ask the very people slowing the economy how to grow it!
Rupert Lowe would do a better job if he was blind and did have Alzheimer’s! |
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"According to the ONS the UK economy shrank 0.1% in January.
There has however been some progress.
Reeves is no longer blaming the Tories. The contraction is now due to global issues. But still absolutely nothing to do with the UK government.
So much for the “Growth Mission”."
And with all that we have next months NI increases to come. Still I'm sure it's early days yet as we are often told |
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Labour just don't get it. Raising taxes can actually lead to less collected. Either as businesses go under, the money makers leave the country (as they did in the 70s under the Labour government) , or more loopholes are exploited. |
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"The way I'm seeing corps locking down on spending and mothballing inflight activities makes me think it is going to get worse."
Observing the same thing in the nation's and Europe's largest companies. Belts are tightening all over the place. |
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Britain has recorded its highest number of company closures for two decades, with the final quarter of 2024 seeing 198,046 businesses struck off the official register.
The research firm Beauhurst, says this surpasses levels last reached in 2021 and in the aftermath of the 2008 financial crisis.
Zempler Bank, a small-business lender, says an 8% fall in new company formations throughout 2024
Grim |
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By *otMe66Man 8 weeks ago
Terra Firma |
"Britain has recorded its highest number of company closures for two decades, with the final quarter of 2024 seeing 198,046 businesses struck off the official register.
The research firm Beauhurst, says this surpasses levels last reached in 2021 and in the aftermath of the 2008 financial crisis.
Zempler Bank, a small-business lender, says an 8% fall in new company formations throughout 2024
Grim "
I would imagine contractors inside IR35 and the implications from increased NI is playing a big part in those figures.
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