Home > Uncategorized > Despite Britain’s New Thatcherites, only the State sector has recovered.

Despite Britain’s New Thatcherites, only the State sector has recovered.

Think Left

First posted Tuesday, 30 April 2013 on Socialist Economic Bulletin

Despite Britain’s new Thatcherites, only the state sector has recovered

By Michael Burke

The British economy is becoming more dependent on the state.  This is revealed in the latest preliminary data for GDP in the 1st quarter of 2013.The preliminary data for GDP only provide limited information – it has only a slim table of data in the preliminary release compared to 40 pages of data in the final release.  The data is confined to measures of output from the different sectors of the economy.  Even so the preliminary release is very revealing. Taking the starting-point of the recession in the 1st quarter of 2008, only one sector has increased its output.  This is the output of government services.  It has contributed 1.4% to GDP growth over that period.  The whole economy is still 2.6% below its peak…

View original post 474 more words

Categories: Uncategorized
  1. No comments yet.
  1. No trackbacks yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: