THE independent Fraser of Allander Institute, the highly regarded Scottish economic think-tank, highlights in its latest commentary its strong belief that the UK's recovery from the deep 2008/09 recession was extinguished by the Conservative-Liberal Democrat's fiscal austerity programme.
One wonders whether, deep down, Chancellor George Osborne might harbour some concern that the UK's renewed recession might have been caused in large part by his hellfire-and-brimstone rhetoric about the country being close to bankruptcy and, in his first Budget in 2010, his £40 billion hike in annual public spending cuts and tax hikes to £113bn due by 2014/15.
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