Hmmm.... so Rachel Reeves tells us that her visit to China & the deal(s) done will add £600m to the UK's economy over the next five years...
So just to put that in proportion; my ex-university, Lancaster U (a medium sized university in NW England) turned over £400m just last year..... so adding £120m a year to the economy, while something more than nothing, in the scheme of things is no great shakes, is it?
This is the problem with numbers being reported with no note on of scale!
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HarriettMB
In response to this post@ChrisMayLA6 Remarkable parallel with the Tory promise of selling lamb meat to the USA…. And not too far from Truss’ mad statements about cheese etc. it seems we only gave a name change in terms of government. For sure there hasn’t been an improvement in intellect, understanding or capability. It will probably cost as much in politicians expenses, administration and promotion as it ‘gains’ in exports.
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MEIDAS TCat Ignores the lies
In response to this post@ChrisMayLA6
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£600M over five years is China giving Reeves an insult, not a prize.
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Matthew W. Thomas
In response to this post@ChrisMayLA6 I hope next she cuts a deal to add 3000 jobs to the economy by 2040
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David S
In response to this post@ChrisMayLA6 that's about 10x £35k cars a day. "wow" etc
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Bob McMeeking
In response to this post@ChrisMayLA6 Did she out do the Pork Market gal?
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Token Sane Person
In response to this post@ChrisMayLA6 Whenever I see a big national number I divide it by 25 million, which is roughly the number of households. So that's about £24 per household over 5 years, so £5 per year. Chump change.
@tokensane
good call & boosted
by Emeritus Prof Christopher May ;
@tokensane @ChrisMayLA6 This also cuts both ways. They say that some essential measure is too expensive, when it suits them, because tens of millions. Which is really just pennies on the average annual tax bill.
by TerryB ;
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Jen
In response to this post@ChrisMayLA6 I like to turn big money numbers into jobs as it means more.
600 million over 5 years is equivalent to about 3,500 jobs of around £35,000pa. Not exactly economy-saving figures.
@JetlagJen
Another good call, and boosted
by Emeritus Prof Christopher May ;
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Nicovel0 🍉
In response to this post@ChrisMayLA6 successive governments now focussing on marginal gains instead of starting with the big ones (people’s QE, EU, wealth taxation)
@Nicovel0
yes, its the tyranny of incrementailsm in the face of problems that require much more extensive responses - we see across politics, though, not just in fiscal policy
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