UK DOMESTIC PRODUCT SHRINKS, OFFICE FOR NATIONAL STATISTICS

The U.K. Office for National Statistics (ONS) reckons the U.K. domestic product has shrunk by 0.7% in the second quarter of 2012. Consequently, and at last, it looks like the gloves are off .The Conservatives and the Liberals have a nice little punch-up in the offing!  I'm going to say the big boy will win!

I'm a bit confused though.  Back to the ONS. Can they be trusted?  For example, who collects and presents the statistics?  

Well I think I may have the answer to the first question. Currently ONS is looking to employ researchers at Bristol Airport and the Port of Holyhead.  Hmm....... They'll be part-time employees, paid at an annualised rate of £15,601 (based on 37 hours per week) but required to work only 6 hours per week. Budding Public and Commercial Service Union members. (see my blog on Striking Border clerks on the eve of Olympics). Plenty of takers there then,  interviewing passengers.    And of course we can rely upon these well-motivated part-timers to collect data in a most diligent way given the in-depth training offered.  

Nevertheless I can't help wondering what useful statistics (i.e statistics benefiting the economy) will be extracted from hurrying travellers intercepted at the ports; and to what extent would  the statistics be reliable?

Mind you think about it. Deduct the time these part-timers could be required to comply with Union orders to withdraw labour, and they probably wont have any time to collect themselves  let alone statistics! Is it safe to assume that similar arrangements are in place to collect a broader spectrum of economic statistics? Statistics which now indicate, as presented, that the U.K. domestic product has shrunk in the second quarter.

Well I'm an optimist. Who cares about the statistics anyway?  We know what you can do with them. I'm more worried about the bizarre suggestion that dear old @Vince Cable is up to being Chancellor. And bless him, when asked, he thought that he "probably would". Such a nice chap eh?

With luck this expected Liberal Conservative punch up (behind closed doors no doubt) will soon be over and @Nick Clegg, @Vince Cable and....and.... (well most people can only think of two of them) will lie low for a bit while they lick their wounds. Will they have learned to be more careful in future?  Will they have the sense to let the Conservatives get on with things? If not they may end up in the trash: there's currently no way @Ed Milliband and his mates would need to let these lads in!!