Economy in the UK

Discussion in 'General Trading Discussion' started by kgord, Oct 25, 2015.

  1. kgord

    kgord Senior Investor

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    How is the economy in the UK doing right now? I have heard perhaps wrongly, it is the best in the world. Is this true? It seems their economy has always suffered...why would it being doing so well now? I have friends from the UK who seem very pleased with their economy at this time.
     
  2. Steve Dawson

    Steve Dawson Active Member

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    I'm not sure how you'd define the 'best' economy, but the US has by far the largest economy. The UK is in an uncertain period right now, whether or not we will stay in the EU is hanging in the balance, there are many political issues at home, of which the on-going immigration crisis in Europe is only one, and theres the never ending call for independence by a large minority of Scots. Quite where the UK will be in a few years time is impossible to call right now, and this uncertainty is making everyone very careful with risks and investments for the immediate future, businesses and consumers alike.
     
  3. missbishi

    missbishi Well-Known Member

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    I wouldn't say it was the best in the world either. We're in austere times right now and whilst things do seem to be picking up a little, your average consumer still has a lot less disposable income than they used to have. Obviously, businesses can't survive without customers and there doesn't appear to be any indication that things will improve significantly. Add in the uncertainty that @Steve Dawson describes and I'd say that the economy is really rather shaky in the UK right now.

    Your friends in the UK aren't called David and George by any chance : )
     
  4. Susimi

    Susimi Senior Investor

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    Like others have said it's doubtful we have the best economy in the world, even though I'd like to think so!

    We're living in difficult times right now and although things seem like they are picking up it's received a big kick in the groin recently with all the steel industry closures and job losses. I'm not so sure what the future holds, so it's a kind of watch this space situation.
     
  5. pwarbi

    pwarbi Senior Investor

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    I have to agree, and here in the UK, I'm not sure if we've EVER had the best economy in the world to be honest.

    As it stands now, while the EU debate us a concern, to the common people in the street, the biggest concern is that people living in poverty is on the increase, so is homelessness and there's more people having to survive off food banks than ever before.

    Public services are stretched to breaking point, and the government are making it worse for British people to live in Britain.

    The state of the economy and issues such as the EU dont matter when your struggling to keep a roof over your head and can barely put food on the table.
     
  6. kgord

    kgord Senior Investor

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    Well from what you are saying, it sounds like the UK economy may be a bit like it is in the US...a bit shaky and uncertain. I mean our gas prices have gone down, but healthcare and food have gone up substantially, so we are kind of holding steady, nothing dramatic going on at the moment.
     
  7. Susimi

    Susimi Senior Investor

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    It does put things in some sort of perspective, doesn't it?

    I'm sure people here have heard the news about the House of Lords blocking the reform on tax credits? Well the government is now trying to make it so the Lords cannot do a thing like that in the future. It's like they're altering a game so they can always win.
     
  8. kgord

    kgord Senior Investor

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    the House of Lords not favoring tax reform. These are the things that you might expect from politicians I guess. These are the things that make government officials unpopular with the public. That and oh about 12 to 15 other things. Are you sure they didn't spend time in the US congress?? lol
     
  9. Susimi

    Susimi Senior Investor

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    I think a lot of people are siding with members of the House of Lords at the moment over the tax credit cuts because a lot of people are not in favour of it and their decision is a representation of that. But, instead of actually listening, the Tories still plan to go ahead with it. :rolleyes:
     
  10. pwarbi

    pwarbi Senior Investor

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    Cutting benefits is something that will cause a lot if debate, and I think that both arguments have valid points.

    What the Tories are wanting to do at the moment though, is cut the benefits that people who DO work rely in to get back by. They're taking away the incentives to go and find work, as they know they will be worse off, so how does that make any sense?
     

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