Burnbrae’s Jim Mellon Sees a Bright Future for Britain
Leaders with Francine Lacqua
Bloomberg
4.6 • 64 Ratings
🗓️ 6 April 2023
⏱️ 28 minutes
🧾️ Download transcript
Summary
The outlook for the UK has improved in recent months, with a technical recession now looking like it will be avoided, according to Bloomberg Economics. In fact, the team sees GDP growth in 2023 of 0.1%, up from -0.4%.
Jim Mellon, chairman of Burnbrae, is predicting an even brighter picture. In this week’s In the City, he tells hosts David Merritt and Francine Lacqua to look out for 1 to 2% growth this year, thanks to a more stable government, an influx of migrants and gas prices falling sharply.
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Transcript
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| 1:02.4 | I'm Franzine Lakwa. And I'm David Merritt. And this is in the city, Bloomberg's podcast, |
| 1:10.8 | connecting you to the conversations at the heart of the city of London. This week, a conversation with Jim Mellon, the chairman of Burnbray. Welcome to In the City, Jim. Thank you very much. Jim, one of the most famous UK investors, really touching on fusion, quantum, longevity, and now precision fermentation, Dave. |
| 1:27.7 | There we go, and we're going to come on to that. |
| 1:29.2 | But first of all, I wanted to start with, well, really a broad question. |
| 1:31.8 | I mean, Bloomberg economists have scrapped their view that the UK is going to go into recession. |
| 1:36.1 | Oh, good. |
| 1:36.7 | So, you know, it's been a pretty bleak six months or so, lots of turmoil, the UK pound hitting new lows. Things are looking a bit |
| 1:45.7 | better now, aren't they, Jim? Yeah, I think they are. You know, universally towards the end of last |
| 1:50.7 | year economists were forecasting that we would be the lowest growing economy in the G7, |
... |
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