The UK is now a little over one year into the age of austerity.
Chancellor George Osborne's high-risk strategy to tackle the UK budget deficit - described by some as "Osbornomics" - is well underway, and economic recovery is ongoing. But what we are seeing is an absence of decent growth.
There is widespread conjecture among official bodies and economic commentators as to exactly how much time economic recovery might be expected to take. For example, the CIPD argues that Osborne's unswerving commitment to his economic strategy "risks crippling the economy for years to come and will make the task of deficit reduction even harder."
There is consensus, however, that UK economic recovery is likely to be painful and prolonged.
Indeed, David Cameron has stated that the UK's "path back to growth will be a difficult one."
The August 2011 XpertHR economic commentary - published to XpertHR's Pay Intelligence blog today (Monday 1 August 2011) considers some of the arguments around the type of recovery that might be in store for the UK. We also report on the latest key economic indicators for HR professionals and employment practitioners.
Chancellor George Osborne's high-risk strategy to tackle the UK budget deficit - described by some as "Osbornomics" - is well underway, and economic recovery is ongoing. But what we are seeing is an absence of decent growth.
There is widespread conjecture among official bodies and economic commentators as to exactly how much time economic recovery might be expected to take. For example, the CIPD argues that Osborne's unswerving commitment to his economic strategy "risks crippling the economy for years to come and will make the task of deficit reduction even harder."
There is consensus, however, that UK economic recovery is likely to be painful and prolonged.
Indeed, David Cameron has stated that the UK's "path back to growth will be a difficult one."
The August 2011 XpertHR economic commentary - published to XpertHR's Pay Intelligence blog today (Monday 1 August 2011) considers some of the arguments around the type of recovery that might be in store for the UK. We also report on the latest key economic indicators for HR professionals and employment practitioners.
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