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How long before the UK economy is back on its feet?

While the worldwide economy seems very much to be on the road to recovery, there are still many concerns regarding the UK economy which appears to be very sluggish compared to other European and worldwide economies. So how long before the UK economy will actually be back on its feet?

Even though every government around the world has had significant problems with regards to government debt and government budget deficits, the situation in the UK is believed to be worse than the vast majority around the world. The UK government has been forced to invest massive amounts of money in the quantitative easing program, taken large stakes in UK banks and also invested heavily into the money markets. These all come at a time when UK tax receipts have plummeted with unemployment rising to above 2.5 million and set to crash through the 3 million barrier in the short to medium term.

The truth is that the UK economy is still in a very dire situation and it will take decades to repay the national debt and get the UK budget deficit back in order. Even though a partial recovery in the economy will assist with tax income, there is no doubt that UK taxation on the whole will rise for many years to come.

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