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Are we approaching the darkest hours before the dawn?

Over the last few weeks we have seen comments regarding the UK economy issued by various parties and various experts, each of which seems to have a different understanding and different appreciation of the current environment. Many believe the UK economy has turned a corner and is on the way to recovery while others believe it is stagnating and set for a fall in the short to medium term.

Ultimately, as we have mentioned on numerous occasions, there is no easy way to forecast the short to medium term direction of the UK economy because ultimately nobody has been in this situation before. However, the old saying that "the darkest hours come before the dawn" is something which we can cling onto even if the UK economy does take a further short-term turn for the worse.

Even though the UK government and the Bank of England have been criticised over the last few weeks, the investment of billions upon billions of pounds of taxpayer's money directly into the UK banking system and directly into UK banks will at some stage pay dividends. How long this will take to filter back through to the UK economy remains to be seen but ultimately without this investment the UK economy would be in a far dire situation.

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