Peter Spencer
Peter Spencer
doubling growth knocked oil percentage point price quarters since three year
On this basis, the doubling in the oil price since 2003 will have knocked something like three quarters of a percentage point off GDP growth during this year alone.
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The Chancellor is blaming the UK economic slowdown on the recent spike in oil prices and the weakness of the European economy, but this is unrealistic,
afloat bills both economy expect fuel high higher keeping pay shopping treasury utility
The Treasury can't have it both ways. They can't expect us to pay higher tax, fuel and utility bills while keeping the economy afloat by shopping in the high street.
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But a prudent chancellor would keep some money in the bank so that he could do something about it.
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With the election well out of the way, the chancellor's forecasts have taken a step back towards reality.
addressing chose finances instead last plain problems report time treasury uk
The problems were plain to see at the time of last year's pre-Budget report in December, but instead of addressing them then, the Treasury chose to dress up the UK finances for the election.