Union Jack: be nimble, be quick - IMF
Led by these forces, the IMF is expecting a bumpy and uneven recovery in the UK and our updated growth forecast for the near term, taking into account the recent GDP release for the second quarter, will be published with the September World Economic Outlook. Over the medium term, we expect growth to accelerate gradually to about 2½pc.
Three scenarios
In our recent discussions with policymakers, we outlined different scenarios for the UK economy. The precise nature of the policy response will, of course, depend on which way the wind blows.
• Stronger growth and higher inflation . If growth and inflationary pressures are stronger than expected, monetary tightening will need to accelerate, and all fiscal windfalls should be saved.
• Prolonged slump and subdued inflation . If there are signs the economy is entering a prolonged period of weak growth, high unemployment, and subdued inflation, rapid action may be needed to kick-start growth to avoid the slump becoming entrenched. If this happens, the risk is that productive capacity could be permanently lost, as temporary job losses morph into long-term unemployment due to job-seekers losing skills and dropping out of the labor market. Such measures to kick-start growth could include a combination of expanded asset purchases by the Bank of England and temporary tax cuts, combined with further reforms of pension and other entitlement programs to safeguard fiscal sustainability and market confidence.
• Weak growth and high inflation . If a slump weren’t bad enough, add to that high inflation. If that scenario unfolds, the appropriate response will depend on what is the root cause. If volatile commodity prices are the main driver of price increases, policies need not respond as long as there remains little evidence that commodity price spikes are producing more persistent price pressures. But if weak growth and high inflation are the result of labor and skills shortages, as evidenced by rapid wage growth, policymakers would have little choice but to tighten monetary policy. A narrower output gap would also imply a higher structural deficit and would therefore require more fiscal adjustment over the medium term.
The most important thing for the government is to stay nimble, and be ready to alter course, should any of these scenarios manifest themselves. For now, staying the course and implementing the wide-ranging policy program that was agreed last year seems the right thing to do.
The Union Jack - News
The UK government should be nimble in its policy response if it looks as though the economy is headed for a prolonged period of weak growth, high unemployment, and subdued inflation. The IMF said it was important that David Cameron's coalition
Let's hear it for the red, white and blue, no not the Stars and Stripes, but the Union Jack: The British Invasion hit the Arts and Culture Centre stage Saturday night opening with several of the Beatles best songs followed by brilliant British band
In the latest issue of Esquire, not only does Helen Mirren deliver some killer quotes, but she again proves herself one of the hottest women alive by posing in just a Union Jack. The photo is, obviously, above. The quotes below. Enjoy.
Shackleton and two members of his expedition team beside a Union Jack within 111 miles of the South Pole, 1909. This year marks the 90th anniversary of Ernest Shackleton's final voyage to Antarctica. The Irish explorer was a key figure in the Heroic
Excited fans along the processional route sport patriotic wear such as blue Union Jack toppers. British police guarantee a safe procession to devoted well-wishers eagerly waiting for the big moment. Workers make the last-minute preparations on the
Union Jack Sneakers by MINI » Fkn' Famous
The new sneakers from the MINI Lifestyle Collection bring the Union Jack look onto the pavement in true British style. These sports shoes come with an unmistakable MINI signature and are set to delight not only die-hard fans of the brand but also anyone with a keen eye for style. In May, sports shoe enthusiasts were able to glean a first impression of this unique model at the SNEAKERNESS in Cologne, Europe’s biggest sneaker convention.
The MINI Union Jack Sneakers are hi-tops and come in classic blue with soles and laces in contrasting white. Fashionable Union Jack details add attractive highlights, with the flag printed on the heel cap and along the shoelace eyelets. The Union Jack profile at the front and back of the sole ensures that these sneakers will leave behind a distinctly British footprint: MINI was here!
The upper material is water weather-repellent canvas, guaranteeing dry feet should the weather put a damper on things, while the silver eyelets for the laces lend the sneakers a retro look. Discreet branding reflects the hallmark MINI understatement, with MINI logos on the outside of the left shoe, the back of the sole and the inside of the tongue. “Beat the street” lettering on the insole of the right shoe adds another catchy detail.
The MINI Union Jack Sneakers will be available from September 2011 on the internet at www.MINI.com/shop and from all MINI dealerships, priced £67. Those keen to size up the shoes before then will have an opportunity to do so at the upcoming SNEAKERNESS conventions in Zurich on 18 June and in Amsterdam on 27 August.
@ ha! Haven't found the people that friendly. Wonder if it is my union jack shirt, cap and shoes which is getting them excited?
@ I vote for James. :P it was the union jack hat which swayed me. ;)
@ Google "EDP 24 Pride Gallery" and you can see the pictures. We are just in front of the pink union jack.
@ Yes in the Union Jack above our teen boy Model Hong Chhim there's a switch to turn the music off. I'm
Glad you like it :p
RT @: Is wondering why @ had the union jack on his putter cover at the The Union Jack - Bookshelf
The Union Jack
The Union Jack, the story of the British flag
The Union Jack
The Union Jack, a magazine of healthy, stirring tales of adventure by land and sea
The Union Jack, what it is and what it means, with twelve lyrics
Media Info Directory
Union Flag - Wikipedia, the free encyclopedia
The Union Flag, also known as the Union Jack, is the flag of the United Kingdom. ... The word "jack" was in use before 1600 to describe the maritime bow flag. ...
Jack of the United States - Wikipedia, the free encyclopedia
The jack of the United States is a maritime flag representing United ... The blue, starred jack is referred to as the Union Jack, but should not be confused with ...
Union Jack
Newspaper published monthly for British expatriates in the USA.
Drawing the Union Jack Accurately
A guide to drawing the flag.
UNION JACK UNION FLAG OF THE UNITED KINGDOM OF GREAT BRITAIN ...
The Union Jack is a transnational flag full of historical significance. ... The British flag is called the "Union Jack", an expression that needs to be explained. ...
