UK ‘on the mend’ but with ‘long way to go’ –

English: George Osborne MP, pictured speaking ...

English: George Osborne MP, pictured speaking on the launch of the Conservative Party manifesto for the 2009 European Parliament elections, at Keele University. (805×1207 px, 283,711 bytes) (Photo credit: Wikipedia)

This is an excellent, MUST READ article from the FT.

via UK ‘on the mend’ but with ‘long way to go’ –

This article is fair and balanced, striving hard to explain the broader context, as well as the politics of the news.

Although Messrs. Cameron and Osborne will crow about the headline statistics, it’s far from an economic recovery, in my view. Much of the public sector is in severe crisis;  UK consumers are receiving lower quality public service from areas like the NHS. Also budget cuts to defense and the Police, for example, bring higher levels of risk.

ONS statistics are prone to serious revision, so in my view, it is far too premature to draw too many conclusions from one set of statistics. Take a hard look at the subjective evidence; it’s very different from the headline.

With vast parts of the UK economy in a mess, I would disagree with George Osborne that the UK is “on the mend”. UK growth is still very weak, compared to the US.

Any thoughts?


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8 responses

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