The UK’s economy may be growing at 2.5% and creating lots of new jobs but there is a high risk of it returning to crisis before long. Things are not helped by national elections on May 7, in which none of the contesting parties has a watertight plan to deal with even the short-term challenges the country faces, yet alone the long-term ones.
For banks, the good news is that they cannot be blamed solely for the next crisis, as they were for the last one, but it also means that raising return on equity levels to reasonable levels will become that much harder.
