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Originally Posted by ianch99
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Never mind us being the sick man of the G7, just feel the GDP increase of 0.08% wafting across the country due to the new deal. Can't feel it? This might be why!
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Officials working on the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) deal changed their usual approach to calculating the GDP figure and instead used a new model that “generates larger estimated GDP impacts”, according to the government’s own documentation.
Sam Lowe, a trade expert and senior visiting fellow at the King's Policy Institute, told The Independent: "While the approach the government has taken is perfectly credible, the change in methodology does seem to have been made with the intention of making the GDP figure sound more impressive."
Nick Thomas-Symonds, the shadow international trade secretary, described the government record on trade as “lamentable”.
“No wonder they feel the need to present figures in the most favourable way they can find. The OBR predict a 6.6 per cent fall in exports in 2023, a hit of over £51bn to the UK economy. That hammers UK growth and will make the cost of living crisis even worse.”
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https://www.independent.co.uk/news/u...-b2313359.html