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Four crises to overcome to save the economy

First published: The Telegraph, 10/04/2010

The official election campaign is now five days old, and you could be forgiven for thinking that the only issue is how and when to tame public borrowing. It warrants its place on the policy agenda, with Government borrowing at more than 11pc of GDP and public debt converging on 90pc of GDP.

For most of us, that translates better as the Government is borrowing just under £1 of every £4 it spends, having doubled its outstanding debt since 2007 to £30,300 per person in the working-age population.

But the state of public finance is only part of a deep-seated structural malaise into which the British economy has….more