Looking at UK economic recovery through “pink-hued Ray Bans”?

Are those who currently claim the UK economy is firmly on the road to recovery looking at the situation through “pink-hued Ray Bans”?

This great phrase comes to you via Jim Armitage in today’s Independent, in a piece entitled ‘Recovery’ is overstating it – so let’s forget about those rate rises for now.

He says:

[T]he fact is the economic growth we are seeing is from such a low base that talk of a “recovery” – so delightedly punted by the Coalition – is far too premature, and almost entirely based on the same old debt-fuelled consumer spending, house prices and service industries.“

What’s your take on this? Is the UK economic recovery on a firm footing? Or is too early to say recovery is a done deal?

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s