Classic Keynes for UK economy

Government spending has helped keep the UK economy afloat as well as consumer spending buoyant. While consumer debt remains high unemployment remains low. Unless interest rates rise substantially it is difficult to know whether the high debt levels will be a problem and whether consumers will continue to spend. David Cumming, head of UK equities at Standard Life, says: "There seems to be limited scope for consumer spending to continue to drive the economy forward. The fact is that consumption growth has been sustained by ever increasing amounts of debt, and it is hard to see the ratio ...