The economy won't improve until there is a better culture towards debt.
Loans for career development and housing are one thing, but the concept of 'saving up' to buy something is lost on today's yoof, as is the concept of paying off credit card bills - they seem happy to loaf along with huge debts paying off the interest. Old-fashioned hire purchase (the 'never never') did at least have legal payment requirements.
With the exception of career development, education and housing, credit should be denied to anyone without an income - and credit card bills should be paid off within a month. As is the norm in other countries. Hire purchase agreements should be required for substantial purchases (e.g. cars) unless payment is made in cash.
Too many people spending money they didn't have, together with financial jackals living off interest payments is one of the root causes of the current problem.