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Monday, 10 September 2012

British economy 'needs to become more dynamic'

The government has been urged to make the country's economy "more dynamic" in order to move away from the difficult times caused by the recession.

Michael Baxter, economist and editor at Investment and Business News, gave this view as he underlined that 2012 is not going be a positive year from an economic standpoint.

On top of this, the business analyst acknowledged that the government must do more to fix the problem that the British economy is unable to move forward in a sustainable way at the moment.

Mr Baxter believes that a good place to begin when sorting out the economy is to make the UK a more dynamic place to work.

"That is a really deep-rooted issue which really does require creative thinking. Unless the government is prepared to do that, the UK is going to limp forward for quite a long time, and certainly for the next several years," he explained.

Furthermore, the business expert recommended the coalition to work on closing the income gap between rich people and poor individuals.

"The median incomes have not been keeping pace with GDP for quite a long time now. That has pre-dated the recession; even during the boom, people's incomes were not rising with GDP," Mr Baxter concluded.

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Posted by Nikki BarristerADNFCR-1617-ID-801445820-ADNFCR

Origin: Salespeak News

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