Still looks to me like the govt deficit is plenty high enough to support at least modest gdp growth until the pro active austerity measures actually reduce it.
U.K. Service Industries Return to ‘Pre-Snow’ Growth
Inflation Could Force Bank of England to Raise Interest Rates, Says Deputy Governor Charlie Bean
UK Faces US-style Jobless Recovery, Says Institute for Fiscal Studies
Wealthy Britons Planning to Increase Spending in 2011, HSBC Says