What news over the Summer for the UK;- Bank of England interest rates – no change, economic growth forecasts – no change and the football World Cup – a DISaster.
The coalition government has been away on holiday so no progress on getting the country back on track, and Labour meanwhile is trying to elect a new leader. Will the austerity measures actually bring about real cuts in the UK deficit or is it just a Lib / CON?
The Autumn has arrived and with it the reality of a long drawn out recovery, but not in house prices from latest comments. Travel disruption in the UK, public sector cut backs and general strikes in Europe could stifle any chance of a TENTative improvement in Euro growth estimates.
The best news in the last week for the political parties in the run up to the UK election has been the Icelandic ash cloud that has engulfed most of Northern Europe over the last few days. Apart from causing travel chaos to thousands of people and costing the travel and ancillary industries millions in lost revenues, there have been enormous “green savings” due to reduced carbon emissions.
The Liberal Democrats have benefited the most as the opinion polls seem to show they possibly have potentially a bigger influence in the next Government than expected by the Conservatives or Labour, following the first live UK election television debate. However, the big issues still remain and also the uncertainty of how anyone in power will tackle them, especially as many of these will not be resolved during the next five years.
Whatever the outcome of the election, hung parliament or a majority winner, addressing UK debt, public sector spending cuts, tax increases, health, education, decline of sterling, interest rates and inflation indicates a slow recovery plan over a number of years to bring prosperity back to businesses and consumers.