Political relations between UK-EU

Didsbury Dave said:
Thanks, you idiots. Thanks a lot.View attachment 30258
Click to expand...

Allow this idiot to comment on your post.

Two observations; firstly those numbers are out of date for the UK (missing latest Q3 figures). Secondly UK is predicted by the IMF to be the fastest growing advanced economy this year and third fastest next year (growth still comfortably over Germany or France). This years predictions are about set in stone so you can take them as pretty accurate.

Now the UKs GDP “fell” harder than the other countries GDP if you look at the headline numbers, however the devil is in the detail. Historically one of the inputs into GDP is for every £1 spent on public services such as health and education the country records £1 of output value. The UK moved away from this about 20 years ago and calculated output on actual outcomes - two of the things hardest hit by COVID are education and health. Now you could argue that kids being home schooled effectively meant they still received an education however the UK doesn’t include voluntary work in GDP (which home schooling would be classified under). Health outcomes for the money given to the NHS are obviously going to be much much lower. On the flip side of this is the exam results when teacher assessed where much better than before which would have a positive impact on GDP when looking at outcomes.

The EU statistical regime has asked EU member states to adopt similar methods to those that the UK uses however this has met with a muted response and lacks any consistency that is supposed to be the bedrock of the EU.

The short version of the above is that you can’t simply compare GDP between countries particularly with all that’s been going on in the world the last couple of years; it simply provides a metric of direction.
 
metalblue said:
Allow this idiot to comment on your post.

Two observations; firstly those numbers are out of date for the UK (missing latest Q3 figures). Secondly UK is predicted by the IMF to be the fastest growing advanced economy this year and third fastest next year (growth still comfortably over Germany or France). This years predictions are about set in stone so you can take them as pretty accurate.

Now the UKs GDP “fell” harder than the other countries GDP if you look at the headline numbers, however the devil is in the detail. Historically one of the inputs into GDP is for every £1 spent on public services such as health and education the country records £1 of output value. The UK moved away from this about 20 years ago and calculated output on actual outcomes - two of the things hardest hit by COVID are education and health. Now you could argue that kids being home schooled effectively meant they still received an education however the UK doesn’t include voluntary work in GDP (which home schooling would be classified under). Health outcomes for the money given to the NHS are obviously going to be much much lower. On the flip side of this is the exam results when teacher assessed where much better than before which would have a positive impact on GDP when looking at outcomes.

The EU statistical regime has asked EU member states to adopt similar methods to those that the UK uses however this has met with a muted response and lacks any consistency that is supposed to be the bedrock of the EU.

The short version of the above is that you can’t simply compare GDP between countries particularly with all that’s been going on in the world the last couple of years; it simply provides a metric of direction.
Click to expand...
Yes, and this and every single other metric of direction from every single source shows the UK falling further and further behind it's competitors.
 
You must log in or register to reply here.
Unread Posts

Don't have an account? Register now and see fewer ads!

SIGN UP
Back
Top
✖
  AdBlock Detected
Bluemoon relies on advertising to pay our hosting fees. Please support the site by disabling your ad blocking software to help keep the forum sustainable. Thanks.