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It all depends on whether the UK economy can ‘’grow out’’ of its debt burden as it did after the second world war through a combination of high public investment and rising inflation (that eventually forced the devaluation of the pound). Given that the profitability of capital in the UK is at an all-time low and the business investment rate worse than in any other major economy, the prospects of achieving that are small. Before this parliamentary term ends, the UK economy could be facing a new economic crisis.