The decade after the financial crisis

It is now more than 10 years away from the 2008 financial crisis. The dangers of laissez-faire and fragmented regulation are reflected in the crisis. The traditional view is that the safe operation of a single institution can constitute a whole financial security. But because of the impact of the subprime mortgage crisis, the traditional view was overturned. On the contrary, through the financial crisis, the government believes that it is necessary to strengthen the role of the central bank in dealing with systemic risks and regulation. The Bank of England insists that the current regulation of banks and the broader financial services industry is much greater.

The decade after the crisis is still having an impact on the economy. Annual wage growth, productivity and unemployment are only now returning to pre-crisis levels, but prices and inflation are not falling and real incomes are below pre-crisis levels. The percentage of disposable income earned by British citizens was 4.1%, the third-lowest since records began in 1963. In the past decade, average house prices have risen by 25%. The standard of living has not risen as much as it should in a decade.here

The global financial system is interconnected. Although the turmoil between the UK and the EU is affecting the banking sector. But borrowing between April and July 2018 fell to its lowest level since 2002. The public budget surplus in July was the biggest in 18 years, at 2 billion pounds. The American economy is strengthening, we have reason to be positive about The future economic growth.