Category Archives: Economics

In or Out – The EU Debate

A big part of the recent national discussion is the nature of the EU agreements, and whether they are benefitting the UK, or are a detriment to our way of life and economic growth. We’ve even seen two debates between the two most outspoken parties in this discussion, the Lib Dems, and UKIP, with most of the UK seeming to come down on UKIP’s side of the argument. This is bourne out in the majority of polls taken on the subject, although some of the more in-depth polls seem to indicate something different. While peoples opinions do seem to be strongly against the current EU relationship, they are also in favour of the general idea of what the EU represents, just not when they dictate rules and regulations to our businesses.

The effects of our leaving the EU are still unclear, and that hasn’t really been helped by the debates, as both parties seemed to be cherry picking data to support their own ideas, with the Lib Dems saying that all two million jobs dependent upon the commerce with the EU will be lost, and UKIP saying that we are more than able to go it alone.

A Period of Growth for the UK Economy

Data released by the Office for National Statistics (ONS) has confirmed that the UK economy grew 1.7% in 2013. It’s been a positive year for the UK in that sense, however 2013 was expected to grow 1.8% so it is still less that the estimations.

The services and industries benefited from a 0.8% increase, while manufacturing rose by 0.5%. There is certainly room for improvement if we the UK is to get back onto its feet, but many people feel as though the UK remains on course.

Things are also looking up for businesses as investment for companies grew 2.4% in the fourth quarter. It will be interesting to see whether these improvements continue in the next quarter, and perhaps s2014 will be remembered as the year that bough significant improvements.