Five myths about the UK Economy?

There is an interesting article on the Liberal Democrat Voice website, click here.
 
It exposes some of the myths and spin surrounding the state of government finances in the UK, the (in)action which is being taken by the coalition government, Labour and its "Plan B”, and the likely (lack of) impact. I particularly like the fact that some of the data is sourced from my colleague Dr Tim Morgan at Tullett Prebon. The author does not present any solution to the problem but I agree with his conclusion that “There is no easy, immediate solution to all this”. As I have often said when asked what the solution is: there isn't one in the sense of a path which does not involve considerable hardship.

 

Comments

[MickC]

Well, what an amazing article to be on a LibDem website!
And it gets a better ride than your colleagues did when he had an article at the Spectators Coffeehouse.

[Terry Smith]

MickC: I was amazed how sensible it is. As for the easier ride - it clearly depends upon who is telling you the unpalatable truth. Maybe people like Francois Hollande would be quite well placed to take the necessary measures if only they could figure out what needs to be done. Lowering the retirement age would suggest he has no clue.

[Barry Corbett]

It would be good to get somebody better educated than I am to reconcile our current economic problems with Adam Smith's The Wealth of Nations.

As the world economies converge, what is the net impact on the UK's "Labour", "Land" and "Stock" in relation to, say, China? I think that a well argued essay might then come up with the germs of a solution(s).

I fear that there are frightening times ahead.