The UK’s economy is increasingly beginning to resemble how it looked prior to the financial crisis – this is not healthy and leaves the UK vulnerable to a repeat of the last crisis.
In this presentation, we discuss that UK growth did eventually return after the crisis, not because of austerity, but in the absence of austerity – in a triumph of political rhetoric over reality.
This has led to a false sense of security. Austerity – which is only now really beginning to kick in – threatens to put a light under the UK’s structural vulnerabilities. This could lead to another recession, or another financial crisis.