UK growth is a fallacy based on debt and house prices, says report

Oct. 23, 2007
The UK’s economic growth is built on debt masked by a housing boom that creates a false sense of wealth and encourages people to over-spend by drawing cash from their homes, a new report has said. The report, "More mirage than miracle," published by the free market think-tank Policy Exchange, states that from 2001 to 2006, a total of £256 …

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