Guest speaker: Howard FlightThe UK - a sinking ship?

Howard Flight is ex-deputy chairman of the Conservative Party and director of Investec Asset Management In his speech, Howard Flight examined the state of the UK. He warned that everything is not all a bed of roses for the country's economy. Flight said: "The issue here is that growth has been sustained by an increase in personal borrowing, whether this has been through credit cards for consumption or against houses. Borrowing has occurred at a faster rate than take-home pay and economic growth. It is inevitable this will run out of steam and, the longer it goes on, the more painful it w...