30 January 2014, The Tablet

In recovery?

by William Keegan

Economic revival

 
This week’s statistics showing that the UK economy grew by 1.9 per cent in 2013 are the latest indicator that a return to prosperity is under way. Our commentator, however, believes that the economic improvement is occurring in spite of, rather than because of, the Government’s policy Undoubtedly, it is good news that unemployment has been falling – and falling faster than the new governor of the Bank of England, Mark Carney, expected when he introduced his much-trumpeted ­policy of “forward guidance”. But the degree to which the Government and the bank can be credited for the fall in unemployment and the resumption of economic growth is open to question.First, let me explain what this relatively new – and evidently to be short-lived – slogan
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