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UK drops out of worlds top ten economies

In a move which is sure to be raised in parliament it has been revealed that the UK has fallen out of the top ten of the most powerful economies in the world. Slipping 3 places to 12th the UK has suffered as a consequence of the slowing economy, high consumer debt and weak public purse which together has seen a number of countries leap frog the UK in the rankings.

While many expect the UK to bounce back into the top ten when the economy picks up it seems as though it will not be as easy as that. A short term economic bounce is highly likely in the UK but the lack of finance for public services is a real concern going forward. It could be a full decade or more before the UK is able to balance is books and start to increase investment in public services and the economy as a whole.

The news of the last couple of days is all well and good and will have an impact but at the end of the day there is no gain without pain and for the UK tax payer this pain could last for up to a decade.

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