Somehow Brexit Britain’s economy keeps on growing

Where is the Guardian, FT, BBC and Channel 4 on this?

Montage © Facts4EU.Org 2023

Brexit Facts4EU once again publishes the good news

On Thursday last week the Office for National Statistics released the latest figures showing the growth in Brexit Britain’s economy. Once again the UK’s economy grew, defying the doomsters from Project Fear and from the Remainer-Rejoiners.

Below we present a brief summary for our readers.

Brexit Facts4EU.Org Summary

The UK economy grew in August and over the past three months

Monthly real GDP (after inflation) is estimated to have grown by 0.2% in August 2023
GDP increased by 0.3% in the three months to August 2023, with growth in all sectors
Services output rose by 0.4% in August 2023 and was the main contributor to the growth in GDP

[Source : Office for National Statistics, 12 Oct 2023.]

Even the anti-Brexit, anti-British IMF predicts faster growth than Germany this year

In the International Monetary Fund’s (IMF) ‘World Economic Outlook’ just published, this anti-Brexit and anti-British organisation predicts the UK’s economy will outperform the EU’s largest economy (Germany) once again this year.

The IMF is one of several major international organisations which has consistently got the UK’s growth wrong, by understating it. Nevertheless we are publishing their latest forecast below.

Brexit Facts4EU.Org Summary

IMF growth forecast for 2023

United Kingdom versus Germany

UK : +0.5%
Germany : -0.5%

[Source : IMF World Economic Outlook, Oct 2023.]

Finally, a reminder of Brexit Britain's economic performance over the last two years

Observations

If we don't, who will?

It is said that “good news doesn’t sell” but if we don’t pump this out there, who will?

Not only has the UK had the fastest-growing economy in the G7 for the last two years, but even the anti-British IMF is forecasting it to grow again this year, compared to the EU’s largest economy (Germany) which it is forecasting will contract by as much as the UK’s will grow.

The UK’s growth is of course “nothing to write home about” but nevertheless it is continuing to grow. Could it grow faster? Yes, of this we have no doubt. If the Government took immediate action to repeal all the anti-competitive measures contained within the ‘Retained EU Laws’ (REUL) this would be a big help.

Slashing corporation tax to encourage investment would also boost growth, as well as having the effect of increasing tax revenues for the Treasury (paradoxically).

Still, we have economic growth. We invite readers to contrast this with the EU’s “economic powerhouse”, Germany. Furthermore we invite readers to compare with the economic ‘cliff edge’ over which the UK was predicted to fall if the British public dared to vote to leave the European Union.

We are still waiting for someone from the Remain side – anyone – to explain to the public why their wild threats turned out to be complete baloney.

We must get reports like this out there

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[ Sources: Office for National Statistics | IMF | OECD ] Politicians and journalists can contact us for details, as ever.

Brexit Facts4EU.Org, Sat 21 Oct 2023

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Reader Comments 8

1. Sparky , Saturday, October 21, 2023, 06:46:

Headlines from Daily Mail 13 Sept. “UK slumps into the red with GDP dropping 0.5% in July as families and businesses struggle to cope with soaring interest rates... amid fears BoE is poised for more hikes”

2. Ashley Great Britain , Saturday, October 21, 2023, 06:59:

Headlines from daily fail 21 Sept. "Britain's GDP surges ahead of Europe's greatest nation, Germany is floundering despite having a monopoly over its neighbours. Despite rejoin factions Britain's prospects are on the up"

3. NH , Saturday, October 21, 2023, 09:00:

1. Sparky, "Headlines from Daily Mail 13 Sept"
.
The 0.5% fall in GDP in July was mainly attributed to the unusual wet weather in July which effected the construction, retail and leisure sectors and a 5 day doctors strike. The NHS output is recorded as "Human Health" in the services sector of GDP. These are unusual problems or exceptional issues not structural problems of the economy.

4. LuxuryBalloon , Saturday, October 21, 2023, 10:00:

It just shows the policies of Sunak and Hunt are working … after the disastrous PMship of Liz Truss.

5. KB , Saturday, October 21, 2023, 15:34:

Do we know if GDP is calculated in the same way across UK/EU ?
No, we know that it is not, from the past discussions about it. Last time we were told the UK method underestimated relative to the EU method, but maybe that is the other way round this time?
Also, GDP seems to include "imputed rent". If you are a home owner, this is the rent you would have paid if you rented your home. Which of course you do not; no money changes hands, so it is a complete fraud. Nevertheless this is included in the UK GDP calculation. I don't know if other countries do this.

6. jon iivesey , Sunday, October 22, 2023, 00:38:

For anyone who is genuinely interested, the concept of "imputed rent" has its own Wiki page, where it is explained pretty well.

7. Stephen Jenner , Sunday, October 22, 2023, 07:15:

This comment ignores the content of this post, on the basis that it was in my view a given that the EU is a sclerotic inhibition to entrepreneurim, and was one of the main reasons that I joined UKIP during the first couple of months of its inception, when Nigel was speaking to tens of people in local school halls and the like.
No... What I want to know is why is that stupid EU warning about cookies still at the bottom of every web page?

8. Jack , Monday, October 23, 2023, 20:10:

With only 2 months to go, almost anyone can predict faster growth than Germany this year. It is with concern though, that the OECD's recent growth outlook for 2024, puts the UK behind Germany & Russia. Even South Africa have a better outlook.
How does South Africa,on the verge of total collapse have a better outlook? Could it be that BRICS is not only catapulting India, but also propping up Russia & South Africa? If so, then sanctions against Russia are not going to work.Therefore, energy price shocks will continue for as long as Russia is doind same as or better than peace-time nations.
Maybe the lesson in that outlook is that entering into trade pacts of this magnitude with nations of low trade gravity & geographical proximity to ourselves, may only work against us in the long run. UK-China trade dropped 6.7% after China voiced concerns of the politicisation of trade in 2022. Shortly thereafter, Cleverly went to Beijing, the 1st UK minister in over 5 years as a response the the cooling. China cannot be avoided but should we shift trade eastward?
It is beyond doubt that the UK needs to trade with China more than ever. Bilateral trade over the past twelve months ending March 2023 more than doubled since May’s 2018 visit. That makes China the UK’s 4th largest trade partner. In return, the UK is China’s 11th largest trading partner, third in a Europe - behind only the Netherlands and Germany.All this after the UK govt determined earlier this year that China poses a “epoch-defining and systemic challenge” to the UK. Interesting times indeed.
Regarding the UK’s growth. "If the Government took immediate action to" ... re-enter the single market, growth would jump 4%. After all the pre-referendum talk about "no one is talking about leaving the single market" you'd think this would have been the sensible thing to do. Instead, we entered the CPTPP for a paltry 0.08% 'growth' over 10 years.

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