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How long before the UK economy is back on firm ground?

While officially the UK economy has pulled away from the recession caused by the credit crunch many people are concerned there is more bad news in the offing, with problems in Europe and in particular the money markets. So while the UK economy would appear to be moving forward in the short term the relative strength below the surface has been very much weakened by the ever challenging budget deficit and sovereign debt which could top £1.4 trillion over the next two or three years.

Experts all agree that the current UK population, and the next generation, will be forced to pay higher taxes and accept reduced budgets in the public sector in order to reduce the massive sovereign debt. As a consequence this will cause a significant drag on the UK economy and a return to the boom and bust times of years gone by is still some way off. There have been major structural changes to economies around the world and the UK would appear on the surface to have suffered more than most because of a lack of "savings" put aside by former governments in the boom times.

While the UK is making progress there is still a long, long, long way to go!

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