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Will George Osborne be forever blowing bubbles?

By Jay Elwes  

Why does economics consistently produce an equal number of reasons for optimism and alarm, as such existing in a perpetual state of self-cancellation? On Thursday this week George Osborne, the Chancellor, will give the Autumn Statement during which he will no doubt stress, at length, his reasons for feeling confident in the state of the British economy. He might point to the recent increase in estimates of UK GDP, of business investment, or mortgage approvals and of house prices. These rapidly-ascending figures, he will say, are evidence that the recovery is broadening. He will make these statements in the context of…

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