British Economy Faces A ‘Decade Of Pain’

British Economy Faces A ‘Decade Of Pain’
The Ernst & Young ITEM Club said the economy faced stagnation unless exports received a boost.

And the forecaster warned there would be little growth in what would be a “challenging year” ahead.

Official figures due later this month should confirm an end to recession in the final three months of 2009.

But the emergence does not mean Britain is revelling in stronger economic activity.

Several initiatives, such as the car scrappage scheme, have propped up spending.

Chief economic adviser Peter Spencer predicted growth of around 1% this year.

sky.com