Titan Business Insurance is worried that the difference of opinion on how to handle the recovery is creating a division amongst politicians and economists which will prove a distraction.
One of the largest UK business insurance brokers is worried that the major disagreements on how the recovery should be managed is causing a distraction.
Titan Business Insurance, which manages policies for companies, organisations and individuals throughout the UK, is concerned that the divergence or arguments into two camps could threaten the stability everyone craves.
The Government view is that the austerity cuts must be seen through as a way of speeding along the recovery by creating a strong platform for future growth. But now many influential economists are saying that this is the wrong approach – that cuts brought in too quickly will have the opposite effect and push the country deeper into the doldrums and possibly create a Japanese type situation which has been characterized by decades of low growth and stupor.
Chief Executive Officer of Titan Business Insurance, Basil Tsapralis, said:
“We have been saying for some weeks now that this is a very difficult time for business and that the recovery remains finely balanced between stagnation and meaningful growth. The recent negative figures from the States suggest that world recovery is still not in place, even though some macro economists suggest that this is the bottom of the cycle and things will recover from herein.
“But what is really preying on UK business minds is that the austerity cuts are going to cut too deep and far from creating the platform for growth, will in effect create a still born economy which is hit by rising external inflation and minor percentage growth.”
Titan handles clients nationwide and is one of the most influential brokers operating in the business insurance market today.
Contact: Titan Insurance on 0207 731 3700 for any enquires