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Has the UK economy been fatally damaged?

As we head towards 2010 with renewed optimism in some parts with regards to the UK economy, there are concerns that the UK has been fatally damaged during the credit crunch. It is no secret that a number of potential issues have been brought to the attention of investors including the massive debt problem in UK, a public sector which is now out of control and a government which is stuck between running the economy and readying the economy for the general election.

There is no doubt that the UK economy has for many years depended upon the services sector, property and retail at a time when the manufacturing sector has been obliterated and is in many areas of the UK non-existent. As the UK financial sector continues to come under pressure from the EU and other competitors overseas, there is concern that the engine room of the UK economy, i.e. the financial sector, will be relieved of some power and influence in 2010. This has been the growth area of the UK and attracted massive overseas investment into the country for many years.

Even though the UK has already fallen out of the top league of economies around the world although it may well be too early to sound the death knell!

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