How expensive was "Track and Trace?"
Posted: Thu May 12, 2022 10:34 am
At the end of https://www.theguardian.com/business/20 ... t-spending (UK GDP shrinks in March as consumers cut spending)
it says
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Did cutting back T&T really cut GDP? I knew it was an expensive way of shovelling money into cronies' pockets, but never dreamt that it would distort national statistics...Darren Morgan, ONS director of economic statistics. said: “The UK economy grew for the fourth consecutive quarter and is now clearly above pre-pandemic levels, although growth in the latest three months was the lowest for a year.
“This was driven by growth in a number of service sectors as the economy continued to recover from Covid-19 effects, including hospitality, transport, employment agencies and travel agencies. There was also strong growth in IT.”
“There were, though, some downwards effects from other services, including retailing, wholesaling and car sales and also health, due to continuing decreases in the Test and Trace service and vaccination programmes.
“Our latest monthly estimates show GDP fell a little in March, with drops in both services and in production. Construction, though, saw a strong month thanks partly to repair work after the February storms.”