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UK government promises jam tomorrow, again!

As the US economy heads out of recession and into a new growth phase, the UK government is under more and more pressure to turn around the UK economy. Despite the fact that Gordon Brown had indicated the UK would turn around in the second quarter of 2009 we have yet to see any evidence of this recovery and indeed MPs are now suggesting it will be the latter part of 2009 before we see any material recovery.

It seems that the UK government is again promising "jam tomorrow" and ignoring the fact that we have been here on a number of occasions and many false dawns have come and gone. The problem now is one of confidence and the fact that every time the UK government suggests we are over the worst, the vast majority of analysts, business people and consumers in the UK are more disbelieving than ever before. The proof will be in the pudding and unfortunately the pudding is not yet ready for consumption and may well be some time off being finished.

Slowly but surely the UK economy is being left behind with countries such as the US, Japan, France and Germany now back on the growth path while the UK continues to flounder and is actually in danger of taking a further lurch downwards.

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