So when will the UK economy finally break free of the recession?
While officially the UK recession ended some time ago there are still major concerns about the prospects for the UK economy in the short to medium term. So when will the UK economy finally break free of the recession?
Even though the Bank of England has reduced economic growth forecasts for this year and next year the UK economy is still forecast to grow over the period. However, there are some experts who believe that a balancing out of the UK economy, an increase in the availability of finance to consumers and industry as well as a strong long-term recovery in the UK economy are some way off. When you consider that UK national debt is set top £1 trillion over the next couple of years this will take many many years to repay.
If the UK economy was a business there is every danger that the liquidators could be called in to check out the cash flow and the chances of repaying this massive debt. As it happens, the UK economy is still one of the largest in the world and hopefully once the situation has calmed down and investors, businesses and consumers begin to look to the future we can begin the task of rebuilding the UK PLC balance sheet.
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