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2011 OECD Economic Surveys: United Kingdom 2011

image of OECD Economic Surveys: United Kingdom 2011

The 2011 edition of OECD's periodic survey of the UK economy.  This edition includes chapters covering supporting the recovery and rebalancing the economy, improving the functioning of the housing market, reforming education in England, and climate change policy in the UK.

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Assessment and recommendations

The global financial crisis and the associated recession ended a 15-year period of continuous growth, rising employment and stable inflation. Significant imbalances had developed, however, in terms of public and external deficits, an excessively leveraged financial sector, high house prices and low household savings. The imbalances exacerbated the downturn during the global recession and contributed to a more pronounced fall in GDP, a larger fiscal deficit and higher inflation than in most of the OECD. A wide range of policies were introduced to support the economy and the financial sector, some of which are now being scaled back.

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