UK economy: Credit for recession-battling

The UK could scarcely be in a tighter spot. Recession has begun and is about to deteriorate. Government finances are very bad and are going to get worse. Unemployment is up to 1.9m and is likely to touch 3m by the end of this year. It’s a pretty ugly mess - and one to which the government has contributed generously. But now the government wants to help generously. It must be seen to be doing something - and ideally should do something that does help. November’s VAT cut was a fine example of wha...