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Large cloud over the UK economy

Despite the fact that the UK economy is finally showing signs of growth there is still a large cloud looming over UK with growth in first-quarter of 2010 confirmed at just 0.2% against expectations of 0.4%. After the return to growth in the final quarter of 2009 there were hopes that 2010 would start much stronger and give the UK economy a springboard for the future. Unfortunately it looks as though the UK is set for a further period of disappointing growth with the budget deficit needing to be slashed, national debt spiralling out of control and a potential change of government all on the cards.

Even though the worst may be over for the UK economy there is no getting away from the fact the fiscal background to this recovery and the strength of the UK finances will hold back a booming recovery. As we have mentioned on numerous occasions, a potential change in government could be something of a poisoned chalice for the eventual winner of the election because by the time the next election comes around they may have taken so many unpopular decisions that they may well be "unelectable". So who really wants to win this next election?

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