Britain will escape with shallower recession than rivals

[Gromit]

The world is facing the "deepest and most synchronised recession in our lifetimes" but Britain will escape with one of the shallowest recessions in the rich world, the OECD, the West's leading economic institution has said.

It said the US, Japan, Germany and Italy would all shrink faster than Britain this year.

http://www.telegraph.co.uk/finance/financetopi cs/g20-summit/5082004/Britain-will-escape-with -with-shallower-recession-than-rivals-OECD-pre dicts.html

Good news, can Brown's 'packages to help the economy' be working?

[sqad617]

Gromit.....I now am completely confused.

Gordon Brown has always said that the Uk is best placed of all the Eurozone countries to ride out this recession.

The IMF states the UK is the WORST placed.

Who should I believe Gromit?

[Schutzengel]

Sqad. I think we are deep in the proverbial.

[Kromovaracun]

Don't forget Spain. They're allready further down the tubes than we are.

The UK economy has long been much more flexible than its European counterparts - I've cited reports by the Economist before predicting sharper short-term rises in unemployment , for instance, but they'll also most certainly be briefer. Like in the last recession, France and Germany will probably be stagnating for longer.

As Gromit says, there's also the effects of the govt's stimulus package that helps limit the damage.

[sqad617]

schutz....I am no expert, but the borrowings are astronomical and will tkae decades to pay off.

This can only be done by increasing taxes on the middle classes and the pivate sector.

Public sector workers will be protected as will the mega rich. whichever party gets in at the next election

It will be the Conservatives, but would you like to be in Cameron's shoes?

What really p1sses me off, is that when New labour came into power, the announsed that they were going to be "Whiter than white"........what a joke.

[Julnar]

It would be nice if there were a think tank, regulatory body or commentator that could be relied on to give an unbiassed opinion, but sadly they all seem experts in confusion.

[sqad617]

julnar.....I agree entirely, I would have thought that there would be some unbiased accountant who could add up the figures and tell us who is correct.

[terambulan]

wot I cant work out is Y am I penalised on interest on my savings - I haven't borrowed any :(

[sandmaster]

The OECD are the experts - experts got us in this mess.

[youngmafbog]

first I've heard of it, all others todate reckon we will be the worst. Lets hope they are right, this has gone beyond politics, for the good of all it has to work.

Not sure they are all McBottles packages anyway, apart from the disatrous VAT reduction. What an expensive joke that was.

[Gromit]

The OECD don't normally do the UK Government any favours, and the link above is pretty critical of the Government's past failures. However, this latest prediction is markedly different from 6 months ago, before Brown's stimulus plans, when they were saying...

OECD says UK is worst placed in G7 to withstand global downturn

http://www.independent.co.uk/news/business/new s/oecd-says-uk-is-worst-placed-in-g7-to-withst and-global-downturn-917276.html

[DSnewsKE]

That was never in the plan, Gromit. There should be no money left. The population should be starving and living in tents. Immigrants should have taken all the jobs, working for �3 an hour.

The right wing loonies on here will be disappointed.