The UK economy is broken. New Economics Foundation: It is not due to Scotland leaving that a “sterling crisis” may threaten. It is due to the UK’s economic problems. Cumulatively, between falling incomes and rising debts, these mean we are already “one shock away from a further crisis.” Whether it was Eurozone stagnation, Scottish independence, or own property bubble collapsing, this is an economy almost designed to fail – at some point, and from some cause. The City clearly believes Scotland is necessary to prop up the economic status quo. But this isn’t just a question of yes or no – the Scottish referendum is an opportunity for the whole UK to force open a debate about our hideously imbalanced economy: its failure to create decent jobs, its hopeless dependency on debt, and above all the damaging impact of the City of London.
Posted on: Tue, 09 Sep 2014 05:34:34 +0000
Recently Viewed Topics
© 2015