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Old 12-08-2020, 12:38 PM #1
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Default deepest recession in UK’s history



our government have done such a fantastic job
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Old 12-08-2020, 12:39 PM #2
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I think a lot of countries will be tbf not much avoiding it what with this pesky pandemic!
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Old 12-08-2020, 12:40 PM #3
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I think a lot of countries will be tbf not much avoiding it what with this pesky pandemic!
I mean probably yes. doesn’t hide the fact that we’ve had the worst economic downfall in europe though.
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Old 12-08-2020, 12:41 PM #4
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BoJo's handling of the crisis has been pretty dire.
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Old 12-08-2020, 12:42 PM #5
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...yep, we need to hold on tight.....
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Old 12-08-2020, 12:42 PM #6
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Worst death rate in Europe and the worst recession in Europe got to give it to the tories, the did an amazing job managing to neither save lives or the economy
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Old 12-08-2020, 12:43 PM #7
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...yep, we need to hold on tight.....
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Old 12-08-2020, 12:45 PM #8
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I mean probably yes. doesn’t hide the fact that we’ve had the worst economic downfall in europe though.
Not to stick up for BoJo but this has little to do with how things were handled this year, more to do with City of London neoliberalism. It was inevitable that the UK would suffer more than any other European nation, simply because of London.

Still the Tories' fault of course - but inevitable since Thatcher hooked our entire economic future to neoliberalism/global markets and the performance of London markets.
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Old 12-08-2020, 12:53 PM #9
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Wait till no deal brexit comes along in a 4 months and gives us another kick in the balls/tuppence.
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Old 12-08-2020, 12:56 PM #10
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our government have done such a fantastic job
I mean it’s the biggest pandemic the U.K. has faced since aids, it may be to do with that rather than the government
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Old 12-08-2020, 12:57 PM #11
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It's caused by the lockdown which all politicians in the country seemingly signed up for.

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Old 12-08-2020, 12:58 PM #12
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Wait till no deal brexit comes along in a 4 months and gives us another kick in the balls/tuppence.
I actually think it'll end up being "absorbed" into the pandemic recession. The Brexit recession would never have been anywhere near as bad as the global recession that's coming from Covid, and at the very least it'll be very difficult to separate out which parts of the drop are Brexit-related and which Pandemic-related. Hugely frustrating that there will be no way to measure the extent of Brexit damage that isn't ambiguous.
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Old 12-08-2020, 01:03 PM #13
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It's caused by the lockdown which all politicians in the country seemingly signed up for.
I mean, we had 2/3 months lead in. Boris buggered off on holiday again. made no plans, wanted to keep the country open (feb 23rd speech), then went on Phil and holly and suggested we take it on the chin, didn't turn up to cobra meetings. Sage recommended masks back in March and the list could go on.

Lockdown is responsible for the recession, but how we got to lockdown and our preparation isn't as black and white as you suggest.
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Old 12-08-2020, 01:05 PM #14
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I mean, we had 2/3 months lead in. Boris buggered off on holiday again. made no plans, wanted to keep the country open (feb 23rd speech), then went on Phil and holly and suggested we take it on the chin, didn't turn up to cobra meetings. Sage recommended masks back in March and the list could go on.

Lockdown is responsible for the recession, but how we got to lockdown and our preparation isn't as black and white as you suggest.
Locking down earlier (and keeping it for longer) would have made the economic damage even worse.
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Old 12-08-2020, 01:05 PM #15
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I actually think it'll end up being "absorbed" into the pandemic recession. The Brexit recession would never have been anywhere near as bad as the global recession that's coming from Covid, and at the very least it'll be very difficult to separate out which parts of the drop are Brexit-related and which Pandemic-related. Hugely frustrating that there will be no way to measure the extent of Brexit damage that isn't ambiguous.
I admire your optimism. I'm the other side, I believe it will exacerbate it. It will give the tories something to blame it on, but our recovery will be far slower than our neighbours and soon to be competitors.
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Old 12-08-2020, 01:07 PM #16
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Highest death rate and deepest recession is really hard to forgive. If he threw economic caution to the wind and locked everything down for a few months, we could have had an incredibly low mortality rate and people would be more forgiving about a recession.
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Old 12-08-2020, 01:08 PM #17
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Locking down earlier (and keeping it for longer) would have made the economic damage even worse.
Yes but we would have had a much lower death rate
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Old 12-08-2020, 01:09 PM #18
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Locking down earlier (and keeping it for longer) would have made the economic damage even worse.
We had a lead in time to prepare and did nothing. We waited to see what would happen, and reacted. Preparation and ignorance of what was happening to our neighbours is my biggest issue. Of course a longer lockdown would have been worse for the economy, but we had the time to try and avoid these issues, but we all just sat waiting for it to hit us.
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Old 12-08-2020, 01:17 PM #19
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Highest death rate and deepest recession is really hard to forgive. If he threw economic caution to the wind and locked everything down for a few months, we could have had an incredibly low mortality rate and people would be more forgiving about a recession.
.

We can bounce back from a recession, we’ve done it plenty of times, it probably would have earned them some capital with people who aren’t fans if we had a lower death rate, but to have the highest death rate and the worst economy is inexcusable
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Old 12-08-2020, 01:22 PM #20
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Yes Sam
its all over the World.
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Old 12-08-2020, 01:28 PM #21
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It was to be expected, and unpreventable.
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Old 12-08-2020, 01:37 PM #22
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This is down to nothing but the Tories' lethargic response to the pandemic.
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Old 12-08-2020, 01:58 PM #23
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well it really didn't matter what Boris did, he has been blamed and criticised throughout. Plenty of it is justified, but the economy and health and the trade offs are very difficult to get right even if historical data had existed, and I certainly wouldnt have wanted to make those decisions, so I'm not going to blame Boris for it either.

None of us have any idea how it's all going to pan out yet either here or world wide
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Old 12-08-2020, 02:01 PM #24
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our government have done such a fantastic job
Brexit meets Covid was always gonna severely harm us Economically imo.

However I do think that a lot of countries (including the UK) could've done a lot better than we have done this year. We responded to the Covid crisis too late.
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Old 12-08-2020, 02:02 PM #25
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Recessions are cyclical, we were pretty much due one anyway so may as well get on with it

Cyclical recessions and economic depressions have always been an integral part of the market economy in the last five centuries. With each contracting cycle occurring on average every five to ten years within longer cycles of structural expansion of contraction
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