Aiming for New Vigour: The UK in the Global Economy
The interaction between global growth and domestic austerity will determine the future of the UK economy. While economists may argue about nuances and timing, the truth is that virtually all of the world's developed economies, including the UK, must address the risks posed by rising public-sector debt. At best, a period of fiscal austerity lies ahead; at worst there could be more instability linked to debt crises in one continent or another.
Vanessa Rossi and Jim Rollo are co-authors of Aiming for New Vigour: The UK in the Global Economy, published as part of the Chatham House project on 'Rethinking the UK's International Ambitions and Choices'