Opting for either austerity or growth in the UK will not be enough to tackle the real structural problems facing the country, according to a leading economist.
As debate rages over which route the UK and other economies should follow to return to an environment of sustainable growth, Jeremy Batstone-Carr, chief economist and strategist at wealth manager Charles Stanley, said neither solution is viable over the long term. He said going for growth now – as the US has – is merely a short-term panacea which will have to be funded by more borrowing, while the UK’s austerity alternative is also riddled with problems. Last week, the initial estimate of a 0.2% contraction for UK GDP in Q1 was revised down to 0.3%. This prompted further criticism of ...
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