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Could the UK economy really move back into recession?

All of the political parties have this week warned to some extent about the risk of recession in the UK if they're competitors are voted in later this week. The Conservative party believes that the Labour Party will spend, spend and spend again while the Labour Party is accusing the Conservatives of taking money out of the economy and risking a slowdown in activity. The Liberal Democrat party is somewhere in the middle and accusing both the Labour Party and the Conservative party of reckless policies in the short term.

The truth is that the UK economy is in a mess and does need immediate attention by whichever party or parties are in power at the end of the week. We will need to see a reduction in public sector investment, an increase in taxes and a general trimming of the cost of state services. There are no easy decisions in the short to medium term and there is every chance that delays and confusion could impact upon the economic recovery underway in the country. While the UK is unlikely to experience a Greek style meltdown it is easy to forget we are now £1.3 trillion in debt and the UK economic recovery is fragile to say the least.

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