The UK is out of recession. That’s alright then. Onward and upward.Really?
If the past 18 months had been a military campaign there would be a debriefing or maybe a (whitewash) inquiry similar to the Iraq one going on at the moment. Have the banks learned anything. Have we? We all collectively still owe a galactic sized chunk of debt, right?
Obviously a fraction of a percent growth does not an end to recession make and whilst I take no pleasure in adopting a glass half empty viewpoint (no really) on the situation it would surely be worth a cautionary dose of realism to speculate that any recovery may take at least a couple of years. Paying off the debt may take a generation.
But if we haven’t leaned collectively from what got us into this recession then we’ll ll make the same mistakes again. Won’t we?
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- UK economy set to exit recession (news.bbc.co.uk)
- UK out of recession – but how did it happen and what next? (guardian.co.uk)