Friday 16 October 2009

Delicate British economy

Amid the first signs of recovery there are increasing voices of concern about the spiralling public debt in the UK, which in the coming years might prove the single most challenging issue for the administration. Part of the problem is that the British public got used to high levels of government spending and feel entitled to most services and privileges and scaling them back rouses fierce protests. In fact, some professions and social group are bracing for protest and civil disobedience in an attempt to put pressure on the government to increase their pay. Economists predict that Britain is bound to join the infamous club of most-indebted Western nations, which includes the notoriously extravagant United States of America.

Vocab:
1. profligate = recklessly wasteful, wildly extravagant,
2. retrenchment = reduction, curtailment of expenses,
3. boom-time pay rises

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