BRITISH ECONOMY IS ON THE RIGHT TRACK

The latest IMF forecast predicts the UK will be the fastest-growing economy among the major developed nations this year.

Applied medicine has included the following

1. Cutting deficits
2. Controlling spending
3. Strengthening the financial system
4. Well-capitalized banks
5. Structural reforms
6. Credible fiscal policy
7. Freeing the power of human enterprise and innovation
8. Competing in the world
9. Education reform
10. Cutting edge science and new technologies

Results

1. Re-building the public finances goes hand in hand with restoring the wider economy
2. Job creation is three times faster than in any previous UK recovery, with 4 new jobs in the private sector for every one lost in the public sector.
3. Falling unemployment (2.2 million unemployed or 6% of the adult working population). The jobless figure for 16 to 24 years old fell by 38,000 in February to 881,000 the lowest for 5 years)
4. British economy is set to register a 2.9% rate of growth this year
5. Rate of growth in investment spending is outstripping the United States

Consolidation

1. Measures to increase productivity
2. Firmer action on youth and long-term unemployment
3. Improving access to finance
4. Recruiting apprentices
5. Support for export
6. Support for investment