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What options do the UK government have to refloat the economy?

As we see the introduction of the bank rescue package part two and suggestions of quantitative easing via the Bank of England's operations there is serious concern about the medium to longer term impact on the UK economy. Quite literally the UK government is running out of money and ideas to get the UK market moving again at a time when confidence is low and the banking community seems hell bent on protecting its own assets to the detriment of businesses and consumers. So what next for the UK authorities?

While UK debt is already expected to top £1 trillion over the next two years there were some suggestions in the weekend press that this could double or treble over the next few years. This would be a serious setback for the UK economy and could see the government request additional help from associations such as the International Monetary Fund which we saw happen when a Labour government hit trouble in the 1970s.

While the UK economy of today is very different to that of the 1970s there are serious concerns that this ever-increasing national debt could drag the country to the verge of bankruptcy and take literally decades to pay back. Increased taxation levels have in the past seen a number of high earners leave the UK for a life overseas and this is something which could come back to haunt the authorities.

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