CHANGE THE WORLD

摘要

Economic growth was the big challenge last year and will remain so for 2012. Late last year the chancellor downgraded UK growth estimates, revealing his limited room for manoeuvre. With business confidence falling and unemployment rising, ICAEW argued for limited action for immediate growth, alongside long-term measures for sustainable public finances. The political arguments on growth continue to rage. The government has been quick to point to the effects of the eurozone, while the opposition says deep and rapid cuts have undermined growth. As ever, the truth is somewhere in between. One thing, however, is true: last year's famous expression, 'the squeezed middle', will be squeezed for some time to come.