UK economy gets cautious approval

The Club, made up of accountants, economists and other specialists, says there is a risk of public spending plans being challenged by the future state of the economy. The housing market is unlikely to 'crash', instead going for a 'soft landing', but there is a big challenge in the price of oil. Predictions for the UK economy by the Club last year relied on a price of $37 per barell - well below recent highs of more than $50 for New York crude. Although the UK is far better placed to withstand such an energy price shock than, say, in the 1970s, there is still an inflation threat cre...