Crash Britain
The government’s going to have a hard time ‘earning its way out’ of this recession, says Rebecca Benneyworth.
Key pointsThe Chancellor’s growth predictions are too optimistic. Growth figures are based on the unsustainable expansion of the financial services sector. By 2015 national debt is projected to reach 80% of GDP. We cannot pay back this high level of debt and the IMF will not be able to bail us out this time.
To read the rest of the article you'll need to log in below
If you've forgotten your details click here for a reminder.
If you haven't got an account, it's free and it only takes a minute to set one up,
click here to register
- login or register to post comments
- Add to a social bookmarking site
The Bottom Line:If Mr Cable has his way...
"If Mr Cable had his way, all the big banks would be broken up and bonuses would be virtually eliminated - a sure-fire way in my view of guaranteeing an end to the UK’s ability to compete as an international financial centre. Let’s not forget that this is a man who is on record as saying that everyone who works in a bank has an ‘aristocratic lifestyle’ clearly demonstrating his lack of understanding of the sector." A tough line on bankers’ bonuses could make a brain drain of financial talent a distinct possibility, warns Paul Marsden. Read more