THE CURRENT DECADE
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Unemployment during 2010 and 2011, however, was reportedly
stabilised while the economy flat-lined for some considerable time.
According to one national newspaper, the Prime Minister told his
Cabinet Ministers to roll up their sleeves and focus on the
Government’s programme for growth. Severe cuts in public services
were made, belts were tightened, and everyone felt the pinch
while the recovery was frustratingly slow in coming.
It was not until 2014 when the UK’s economy was widely
acknowledged as growing and returning to pre-recession levels. By
summer it was declared as growing faster than that of every other
major developed country, and the IMF (International Monetary
Fund) upgraded its forecast for UK growth to 3.2% for the year and
2.7% in 2015. The downturn, described as the largest in a century,
allegedly cost the UK economy £240 billion.
(above)
Torrent Trackside
BRITAIN’S STRUGGLING ECONOMY AT THE START OF THE DECADE HIT THE
HEADLINES AND OVERTOOK THE WEATHER AS THE MAIN TOPIC OF
CONVERSATION. FOLLOWING THE PAIN OF THE 2008 RECESSION, FELT BY
EVERYONE, OPTIMISTS SPOKE OF SEEING “GREEN SHOOTS OF RECOVERY”
WHILE PESSIMISTS SAW NONE AND GAVE GRAVE FORECASTS.
