Rebuilding made in UK

The UK crisis can be divided into four. The housing bubble has burst. The banks are bust. The government’s budget has burst - but it can still borrow, especially if the Bank of England prints the money. And, finally, economic output is punctured. Everything depends on a return to growth - and to a different type of growth, not house price hype, finance fizz and bankers’ bonuses, but hard-graft production and exports. The latest data suggests the rebalancing has hardly begun. Manufacturing ...