The economy: Why the recession is worse than you think

As the UK officially entered recession, Chancellor Jeremy Hunt was keen to talk up the country's economic prospects, insisting things are looking up with inflation coming down.

But is he right to be so positive?

GDP per head - a better measure of living standards - suggest the economy might be in a weaker position than official figures show.

#recession #chancellor #economy

[Cappellano]

Not to worry, our PM is a multi-millionaire. He will be fine.

[jameshealey]

The usual BS from Hunt - so when inflation went up it was because of Ukraine and therefore nothing to do with the Govt. but when it's falling it's "Our plan is working". Maybe one way of keeping costs (and inflation) down would be better control over the likes of British Gas who announced today profits up from £72m to a whopping £751m

[johnben]

I believe I should watch a video on "How to survive the current recession" given the state of things. Actually, it's a complete failure. The fact that some people could still earn more than $400k in a short period of time astounded me. If that's still the case, please explain how.

[excalibur]

And don't forget, they will still hike your council tax and every other bill in April

[Piecenotwar]

It’s been coming for years, the reason I left 10 years ago was because I couldn’t see much of a future for my family or myself there.

[robert.h]

Meanwhile British Gas profits went from 72M to 751M

[hvktzcm]

As usual the Tories are blaming everyone except for the people responsible which is them

[monkeyboy]

Don't worry. Billionaire Ritchie Sunak and his privileged government are all keeping warm and eating well.

[samgaynor]

For last 8 years I think we been in a recession for christ sake

[glensumner]

OMG someone actually said the Brexit word

[Lynn.hot.legs.peters]

We're Booming ... British gas profiles up 943% this year .... Thanks to the conservative Plan ?

[Wintermute]

Our EU and USA neighbours have also had a pandemic and war in Ukraine. They have not had a decade + or right wing ideological tory lunacy. Therein lies the difference.

[howardgayton]

Brexit and 14 years of Tory Government.

[virtious]

So Jeremy Hunt points out we’ve had a pandemic and the war in Ukraine - I’m wondering if is there any other event which could have adversely affected the economy?

[Abraham_Tsfaye]

When I was in UK. I saw empty boarded up streets under a constant grey sky, litter everywhere.
Homeless people sleeping in doorways. A women with cat whiskers makeup casually walking into Tesco with her pajamas. Opioid addicts out of their mind and women so drunk they urinated on the streets.
It's a sad declined country.

[kerryfry]

The bank of England control interest rates. So what has the government done exactly? Gaslight the public with BS.

[declancotter]

We've been in stagflation for some time. It's not a surprise that we've slipped into a recession with inflation hear to stay.

[MirceaKitsune]

Britain wanted a Victorian age authoritarian puritanical society, but someone forgot to inform them it comes packaged with a Victorian era economy.

[RonaldShea]

The United Kingdoms national debt is now close to becoming unsustainable debt status and approximately one third of said debt is indexed linked, largely due to the irresponsibility and incompetence of the officials of the bank of England. This country is dangerously close to economic, fiscal and monetary collapse and anyone relying on state assistance, support and or services which includes many are likely to find the present and the future will be so very different from the past particularly as the UK is currently spending approximately thirteen percent of annual gross domestic product on the interest alone.

[Troy-McClure]

Meanwhile here in Las Vegas USA we're not In a "recession" and inflation isn't as bad as we think😂 All my utilities have doubled, my groceries have doubled in 1 year, the Cart is going downhill on fire and we're all going for a ride...Good Luck my friends