Sunday, Aug 27, 2006
The UK's economic future looks grim
Sunday Telegraph: Economic Agenda: Why Brown has been imprudent
During years when the economy should have been building up national savings to prepare for the forthcoming demographic drag, the Government has actually presided over a sharp drop in saving and huge rises in borrowing.
Economic policy has focused on sustaining growth in the short term, by spending and borrowing, and has squandered the demographic boost that should have enabled more saving to prepare for the ageing population.
Far from prudent management, this suggests a short-sighted agenda of going for growth now and leaving the next administration to cope with the consequences of demographic inevitability..........
Posted by waiting patiently @ 04:56 PM (166 views) Add Comment
1 Comment
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1. The Bald Man said...
Articles are now starting to emerge which are casing doubts on the "Economic miracle". Gordan has borrowed from the future to generate growth through unproductive public spending. IMHO we will be paying for this over the next decade.