THE looming recession is likely to be prolonged. The responsibility for the social turmoil it will cause, for the better part, can be laid at various government departments insofar as monitoring all aspects of wealth generation over recent decades.
The most obvious government departments that should have been aware of the potential downturn, a decade or so ago, would be HM Treasury since it is regularly given the information provided by HM Revenue & Customs. Add to this observation, it would be right to include the Bank of England and Financial Services Authority - both advisors to the Government.
HM Revenue & Customs collects financial information (end of year accounts, VAT receipts, etc) daily about firms and individuals. It would have also been aware, some years ago, that not all of the politically contrived policies could maintain the boom provided by the property market and credit card economy.
RAYMOND ANGEL, Southampton.
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