The British economy: The pain to come  

Oleh:

The Economist

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 394 no. 8675 (Mar. 2010), page 23.
Topik: Britain; Economy; Recession; Recovery; GDP

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.60 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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FROM the chancellor’s brandishing of the red Gladstone box to his speech in the House of Commons, British budgets are events in their own right. But as the drama of the day fades, some turn out to be less about the public finances and more about politics. Alistair Darling’s budget on March 24th was first and last a launching-pad for Labour in the general election expected on May 6th. As Britain prepares to go to the polls, its sick economy is uppermost in voters’ minds. With good reason. There are fundamental doubts that it can ever recover fully from a banking crisis and recession that laid Britain lower than many other rich countries. In the short term, the worry is whether a feeble recovery reliant on fiscal and monetary life-support can develop its own driving force. Looking ahead, there are fears that the strong, steady growth rate in the 15 years before the financial crisis is no longer Britain’s default mode. And casting a dark shadow over the next parliament are public finances that have veered wildly into deficit and will need to be hauled back harshly from the brink.

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