Deficit should reduce rapidly over next five years

ON UK GROWTH

IAN MCVEIGH, manager of the Jupiter UK Growth fund on UK Growth

Economic news has ebbed and flowed in recent weeks, with concerns about the lack of job creation in the US offsetting relatively buoyant newsflow from China. In Europe, the German economy has continued to power ahead. In the UK, the pessimists are intently focused on government debt levels. However, talks of cuts in government spending in many ways may be creating a misleading impression. I have taken a view that while the deficit problem is substantial and requires determined action, it is more tractable than many headlines have led people to believe. If the economy grows by 2% to...