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Is £20 billion enough to save the UK economy?

The Chancellor Alistair Darling has tonight increased concern that the UK economy is heading for a serious recession after airing his views that the £20 billion fiscal injection of last week may not be enough. This is a serious development as the government had apparently placed their last hope on the £20 billion package as a way to refloat and rebase the UK country.

If after just a matter of days the government appears to be having second thoughts this does not bode well for the short to medium term and does not give the UK consumer the confidence many had hoped. The news from the high street is worse than ever and it appears as though the 2.5% reduction in the VAT rate will have little or no effect in the short-term. But this is a critical period for the UK economy as literally tens of billions of pounds have been ploughed into the system with little or no effect over the last few days.

The next week could see yet more developments on the fiscal policy of the UK government as they strive to inject confidence and stability into the country.

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