UK economy doing better than England World Cup team?

Following a week in which a Home Office report into pub opening times during the forthcoming World Cup in Brazil, concluded that England have only an 11% chance of progressing beyond the quarter final stages of the competition, with a 46% chance of not even making it out of the group stages…

Mark Carney, the Governor of the Bank of England has stressed the recovery from the financial crisis was still in its early days, comparing it so far to the equivalent of “a country making it through the qualifying rounds for the World Cup”, which starts next month.

“That is an achievement, but not the ultimate goal. The real tournament is just beginning and its prize is a strong, sustained and balanced expansion” he said.

Interest rate rise not imminent

Britain’s economy is now widely expected to grow about 3% in 2014, probably making it the star performer among large, industrialised nations but Mr Carney was seeking to dampen recent speculation that interest rates would go up sooner than predicted. His guidance was that this still not likely to happen before the second quarter of 2015 and then only by a small increment.

Pub opening times

The Home Office report was ordered after David Cameron overruled the initial decision on late opening hours and ordered a rethink to ensure pubs can be open for England’s first World Cup fixture against Italy on June 14th.

The Prime Minister stepped in after pubs were refused permission to extend opening hours for the clash, which kicks off at 11pm. They will now be allowed to be open until 1am. Phew!!

 

Posted by John Hoskin