Growth 1.7% year on year
The link gives a list of reports from the Office of National Statistics on GDP. Clearly there are issues about the economic and environmental sustainability of growth. It remains, however, an important factor in government planning.
We are putting together a simple summary of key statistics. The key for growth at the moment is that the growth over the past 4 quarters is 1.7%.
Stories such as This telegraph story
compare the actual 12 month figures of 1.7% to Gordon Brown's prediction of 3-3.5%.
This will have a further impact on the government's finances. This chart
is useful for looking at the recent past.
Reports in the media indicate the worst 12 month period since 1993. I have not seen the evidence for that, however.
What surprises me is the Treasury's plan to merely maintain their current plan. I understand the argument that we have relatively low national debt. There is, however, a question raised about the long term economic sustainability of their financial planning as well as its environmental sustainability.