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Could the UK economy implode like Greece?

As UK voters make their way to polling stations up and down the country there are growing concerns about the UK national debt and the budget deficit. Even though all eyes are on the Greek issue, where rioting overnight have seen three people killed, there are serious concerns about the state of the UK finances. So could the UK economy implode just as we saw in Greece?

The truth is that despite the historic strength of the UK economy, no country in the world is immune from financial disaster. Unless the UK budget deficit is addressed immediately and a UK national debt repayment plan is forthcoming, investors could lose faith in the UK and we could see the cost of financing debt increase for the government. This would place more pressure on the UK budget and make it even more difficult to pay down UK debt within an acceptable timescale.

Whichever party you believe has the best plan of attack for the UK economy, the budget deficit and national debt, we all need to be aware of how serious the situation is and how much more serious it could become. We may well look back on this election as a pivotal moment in the history of the UK economy and the UK as a whole.

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