Is the financial sector the engine room of the UK economy?
Over the last few months the UK government has ploughed billions upon billions of pounds into the UK financial sector as a means to try and kickstart the UK economic revival. So far there has been limited success in this area even though the UK banking sector would appear to be approaching boom times with large bonuses yet again in existence. So is the UK financial sector the engine room of the UK economy?
There's no doubt that the UK financial sector is the engine room of the UK economy and controls the inflow and outflow of funds to businesses and consumers around the country. It is his dependence upon the financial sector which effectively forced the UK government to invest billions upon billions of pounds into the sector although the expected return for businesses and consumers has yet to materialise. While many people have been criticising the UK financial arena, when you consider the massive amount of taxes paid out by banks and financial companies in UK it is a significant element not only of the economy but also the UK government's tax income stream.
There is no doubt that without a recovery in the UK financial sector there is no hope for the UK economy so unfortunately we will just need to sit and wait until the banks decide to release more money.
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