{"id":25565,"date":"2014-07-24T19:53:45","date_gmt":"2014-07-24T18:53:45","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=25565"},"modified":"2014-07-24T19:53:45","modified_gmt":"2014-07-24T18:53:45","slug":"theres-nothing-to-celebrate-about-returning-to-2008s-gdp-almost-all-of-us-are-worse-off-still","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2014\/07\/24\/theres-nothing-to-celebrate-about-returning-to-2008s-gdp-almost-all-of-us-are-worse-off-still\/","title":{"rendered":"There&#8217;s nothing to celebrate about returning to 2008&#8217;s GDP: almost all of us are worse off still"},"content":{"rendered":"<p>Before anyone gets excited about GDP returning to 2008 levels (as is likely to be announced tomorrow) can I refer <a href=\"http:\/\/ons.gov.uk\/ons\/rel\/elmr\/economic-review\/july-2014\/art-july-er.html#tab-Quarterly-National-Accounts\" target=\"_blank\">to this table issued by the ONS <\/a><span style=\"text-decoration: underline;\">on 2 July<\/span>:<\/p>\n<p style=\"text-align: center;\"><a href=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2014\/07\/Screen-Shot-2014-07-24-at-19.46.05.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter  wp-image-25566\" alt=\"Screen Shot 2014-07-24 at 19.46.05\" src=\"http:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2014\/07\/Screen-Shot-2014-07-24-at-19.46.05.png\" width=\"533\" height=\"293\" srcset=\"https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2014\/07\/Screen-Shot-2014-07-24-at-19.46.05.png 666w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2014\/07\/Screen-Shot-2014-07-24-at-19.46.05-300x164.png 300w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2014\/07\/Screen-Shot-2014-07-24-at-19.46.05-545x300.png 545w, https:\/\/www.taxresearch.org.uk\/Blog\/wp-content\/uploads\/2014\/07\/Screen-Shot-2014-07-24-at-19.46.05-200x109.png 200w\" sizes=\"auto, (max-width: 533px) 100vw, 533px\" \/><\/a><\/p>\n<p style=\"text-align: center;\">\n<p style=\"text-align: left;\">The point is an obvious one: even if the absolute level of GDP has returned to the 2008 level GDP per head has not. It is at no more than 95% of 2008 level. And that means almost everyone in this country is still worse off than they were in 2008. That's nothing for the government to celebrate.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Before anyone gets excited about GDP returning to 2008 levels (as is likely to be announced tomorrow) can I refer to this table issued by<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2014\/07\/24\/theres-nothing-to-celebrate-about-returning-to-2008s-gdp-almost-all-of-us-are-worse-off-still\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[35],"tags":[],"class_list":["post-25565","post","type-post","status-publish","format-standard","hentry","category-economics"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/25565","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=25565"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/25565\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=25565"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=25565"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=25565"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}