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Posted on 09/30/2024 9:18:36 AM PDT by rightwingintelligentsia
Britons have suffered a slump in living standards, official data shows, as a surge in net migration wiped out any gains from economic growth.
So-called real GDP per head shrank by 0.3pc between April and June compared with a year earlier, the Office for National Statistics (ONS) said, suggesting living standards have slid backwards as the population grew.
It comes after net migration hit a near-record 685,000 last year.
Experts said the figures meant the population was growing faster than the economy, underlining the challenges facing Rachel Reeves ahead of her maiden Budget.
Paul Dales, chief UK economist at Capital Economics, said: “You have had the population growing at a faster rate than GDP. That increase in the population was almost entirely due to fairly rapid rates of inward migration.
“It suggests living standards are not really improving that much. The increase in GDP we have seen is by and large just because there are more people in the country. But on a per person or household basis, there is not any more income to go around. It is a bit worrying.”
The hit to living standards is greater than the ONS initially believed, previously estimating it at 0.1pc.
It follows soaring immigration in the years since Covid, with the population in England and Wales growing at the fastest pace in at least 75 years in the 12 months to mid-2023.
(Excerpt) Read more at msn.com ...
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Good. Only pain can cause the change necessary for freedom.
The invaders have taken over their nation without firing a single shot and guess who’s next in line? If that nation doesn’t start their Civil War they’re never gonna get it back. Even if they have to use rocks and sticks or whatever necessities to fend off the invaders once and for all. Start with London.
That’s odd eh.
They used the wrong word in the headline. “Slump” I think implies that at some point you will return to the previously high living standard.
This will not be the case...the correct wording should be “permanent degradation” in living standards.
The old adage about putting a neat person and a slob into the same apartment. Does the slob rise to become a neat person? No, after a few weeks the neat person sees no reason not to just be a slob as well....
...that has to support a welfare state. This is what happens when a globalist Uniparty puts its ideology over the interests of its citizens.
The UK was toast when they rolled out their own Ponzi scheme called NHS.
If they had listened to AZ and TX voters, they could have saved themselves lots of pain
....I’m reminded of another similar scenario - if you mix a certain amount of your favorite flavor ice cream with an equal amount of dog turd, which substance enriches the other...? I feel sorry for the British people....they have been badly served for several generations...”Rule Britannia!” is just a memory for most Britons....
Of course. It’s the law of diminishing marginal returns to labor.
You are only as free as you make the effort to know why.
You only have rights that you are able to defend.
Your rights are your property.
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