Economic recovery 'will be slow, if we're lucky'

The UK should count itself lucky if it begins a long, slow recovery over the coming months, according to a leading economist from the London School of Economics (LSE).

Britons are still feeling the impact of the recession, in particular through the declining jobs market where unemployment continues to rise.

This could already be making it particularly hard for many to manage their credit card debt - a problem that may continue for some time as the economy recovers from its losses over the last two years.

LSE's Julius Sen explained that the economic recovery will be "low, slow and long drawn out ... if we are lucky".

However, he warned that further cuts in spending and the looming spectre of inflation could all push the country back into recession again.

Mr Sen explained: "Now that would be very problematic – a return to the crisis of the mid-1970s which was only solved through tough inflation control, high unemployment and trade liberalisation."