Britain stuck with high inflation, meagre growth..

[alreadypacked]

It's a Zen thing, everybody can't be rich at the same time.
Currently it's not our turn, maybe not be our turn for sometime.
Tighten your belts.

HTH

[VectraMan]

Austerity measures never got any country out of recession.

Bankruptcy never got any country out of recession either. Just ask the Greeks how confident they feel about their economy.

[Robinho]

Cut spending by at least 1/3rd
Possibly lower tax if possible
Slash regulations all over the board (particularly employment regs)
Abolish the BoE (money base to stay the same and the market to set interest rates)

[SimonMac]

Bankruptcy never got any country out of recession either. Just ask the Greeks how confident they feel about their economy.

Iceland don't seem to be doing to bad

[Robinho]

Quite.

What we need is a bloody good war.

Well it worked the last time.

No it didn't. The US didn't leave the great depression until 1947. The war simply masked the GDP figures.

[DimPrawn]

This is the top headline on Google news.

Ok then, what's the solution.... How do we get out of this tulipty situation.

Armchair economists please step forward with your answers.

I'm bored of the recession now.

Put the kettle on love, there's a good girl.

[KentPhilip]

Austerity measures never got any country out of recession.

That isn't the purpose of austerity.
Austerity in the short term is required to control government debt (i.e. repair the previous government's economic damage)
The recovery from recession won't start until this repair is complete.

[AtW]

Austerity is required to cut Govt expenditure - otherwise it would grow until there is no private sector left.

[Robinho]

The UK is ****ed because the composition of its productive output is based around spending money that isn't there, a quick glace at the trade deficit confirms this very nicely.

This is why anything other than austerity is so utterly utterly moronic. People want to spend money propping up an unsustainable economy in the hope that it will suddenly because sustainable.

Mass austerity is the only thing that can reshape the UK into a productive country. Anything else is simply kicking the can further down the road. People just have to accept that our quality of life is going to decline quite a bit.

Thanks Labour.

[AtW]

It's ironic that it was Labour that really more or less finished off British industry - they had the chance to undo the damage made by Thatcher, but they opted to pocket easy money from the City instead.