UK economy ranked below Zimbabwe

[outsider]

'UK economy ranked below Zimbabwe by World Economic Forum, thanks Cameron': http://www.scriptonitedaily.com/2015/09/30/uk-economy-ranked-below-zim babwe-by-world-economic-forum-thanks-cameron/

'While UK Prime Minister David Cameron and his chancellor George Osborne claim their austerity policies are making the UK economy stronger, a devastating report by the World Economic Forum argues otherwise. In fact, parts of the UK economy are now performing worse than Haiti and Zimbabwe.

The World Economic Forum releases it’s Global Competitiveness Survey every year, a major report that is read and referenced by decision makers in politics and business the world over. This year, the UK slipped from 9th to 10th overall, out of the 140 countries studied. But if Cameron and Osborne are saying the UK economy is not only in recovery, but the fastest growing economy in the developed world, how can we be slipping down the league tables?

The answer is debt. In the area of the assessment entitled ‘macroeconomic environment’, the UK came 108th, behind Haiti, Senegal, Zimbabwe and even Liberia.......'

'.....Cameron and Osborne claim to have balanced the UK’s books, yet one of the most respected global studies ranks the UK’s budget 118th in the world. Something is wrong with this picture.

If any other element would have come out this poorly, but macroeconomic environment would have been high, Cameron and Osborne could have argued: ‘look, while individual elements of the economy are still struggling to recover, we have the big picture in place, the other elements will fall into line.’ But they don’t have that defense. What this study suggests, as have notable economists throughout the last five years, is that Cameron and Osborne are making short term cosmetic economic lifts by decimating the national economy. By creating more public debt in their first three years than New Labour did in 13 (and they bailed out the banks!), they are crippling the UK economy in the longer term......'