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Sainsbury warns of realities of recession

Justin King, the chief executive of Sainsbury, has today warned the UK population that Britain is "yet to face the realities of recession". Despite the fact that the UK market sector appears to be faring better than most in the UK economy he believes that the full extent of the UK recession has yet to be realised by the UK population.

While there is no doubt that money is still tight in many areas of the UK, there was a growing feeling that the UK economy was at last started to show signs of life. However, it is the massive national debt, large budget deficit and need to cut public spending which many people have not yet begun to appreciate. In many ways, the UK economy has depended upon massive public sector investment for jobs and once this crutch is taken away it will be a very different outlook for the UK economy.

This is the reason why Alistair Darling and Gordon Brown have been at loggerheads for some time because Alistair Darling wants to pay down the UK debt while Gordon Brown wants to keep investing in public services. Unfortunately, no matter how hard Gordon Brown tries he will one day have to admit defeat and reduce public sector investment.

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