{"id":90,"date":"2007-04-23T11:13:35","date_gmt":"2007-04-23T11:13:35","guid":{"rendered":"http:\/\/www.the-finance-zone.co.uk\/uncategorized\/economy-skating-on-thin-ice\/"},"modified":"2007-04-23T11:13:35","modified_gmt":"2007-04-23T11:13:35","slug":"economy-skating-on-thin-ice","status":"publish","type":"post","link":"https:\/\/the-finance-zone.co.uk\/index.php\/2007\/04\/23\/economy-skating-on-thin-ice\/","title":{"rendered":"Economy &#8216;skating on thin ice&#8217;"},"content":{"rendered":"<p><span style=\"font-size: 10pt\"><!-- S BO --><!-- S IIMA -->An influential forecast group is concerned about the risks individuals, firms and ministers are taking with borrowing.<\/span><span style=\"font-size: 10pt\"> <\/span><span style=\"font-size: 10pt\">Ernst &#038; Young&#8217;s Item Club spring forecast said people are &#8220;overly relaxed about risk&#8221; and are &#8220;spending as if it was going out of fashion&#8221;. <\/span><\/p>\n<p><span style=\"font-size: 10pt\">Club chief economic adviser Peter Spencer said: &#8220;The bottom line is that we are all living beyond our means.&#8221; <\/span><\/p>\n<p><span style=\"font-size: 10pt\">&#8220;Ultimately we are all skating &#8211; not to say wobbling &#8211; on thin ice,&#8221; he added. <\/span><\/p>\n<p><!-- E SF --><span style=\"font-size: 10pt\">The report highlights the current deficit in the public sector and expresses surprise that it built up at a time of economic strength and buoyant tax revenues. <\/span><\/p>\n<p><span style=\"font-size: 10pt\">&#8220;If the Chancellor is forced to borrow so much when the economy&#8217;s so sweet, what will happen when it turns sour?&#8221; Mr Spencer asked. <\/span><\/p>\n<p><span style=\"font-size: 10pt\">The Item club also says that the business sector is driving economic growth faster than either government or consumer spending. <\/span><\/p>\n<p>It points out that business investment at the end of 2006 was 13.5% higher than it had been the previous year.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An influential forecast group is concerned about the risks individuals, firms and ministers are taking with borrowing. Ernst &#038; Young&#8217;s<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_container_layout":"default_layout","colormag_page_sidebar_layout":"default_layout","footnotes":""},"categories":[12,48],"tags":[],"class_list":["post-90","post","type-post","status-publish","format-standard","hentry","category-economy","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/90","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/comments?post=90"}],"version-history":[{"count":0,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/posts\/90\/revisions"}],"wp:attachment":[{"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/media?parent=90"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/categories?post=90"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/the-finance-zone.co.uk\/index.php\/wp-json\/wp\/v2\/tags?post=90"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}