Tuesday, 26 October 2010

Apparently the UK has secured a more stable rating.

One of the credit rating agencies considers that the rating of the United Kingdom economy is more secure following the public spending review of George Osborne, where
spending is going up in nominal terms. However, quite a few domestic commentators are concerned about the widening gap between north and south. There is the argument that if the regions did not create many private sector jobs when things were good, then they are unlikely to do so after public sector job losses.

If the public sector job losses are decided by the bureaucrats, then they will be safe and front-line services will be hit. My health services have already been affected and the NHS is supposed to be safe with the Coalition government! In the Greater London area Enfield and Sidcup, A&E services are to be "reconfigured". Just hope the ambulances can go faster to reach their longer destinations in time.

In the "New Statesman" US-based economist Danny Blanchflower is pretty scathing about the economic experiment of George Osborne but the recent quarterly GDP figure of 0.8 pct growth is not bad and maybe the British economy might be lucky. However,
lifting exports is going to be hard with such an unbalanced economy.

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