What might be the "light at the end of the tunnel" may not be the landing lights of a 747, it could easily be car headlights rushing toward you, or equally the light on the front of Gordon Brown's economic bicycle...
bear in mind...
"time to pay off part of their £1.4trillion debt mountain, while the Government raises taxes"
"King warned that banks may further reduce the supply of loans to firms and households as they rebuild their own finances; ... 'the recession appears to be deeper' than the Bank's own Monetary Policy Committee thought likely at the time of their report in May."
"joblessness has soared to its highest level since 1995. The Bank of England predict the level of unemployment will carry on rising 'for some time'"
"'Mervyn King has once again underlined how hopelessly optimistic the Government's assessment of the length and depth of the recession really is."
"in a further blow to the Government's credibility, the Bank said that this year's downturn will be even sharper than previously expected, with gross domestic product tumbling around 4.4 per cent, according to the Bank's forecasts.. That is significantly worse than the Treasury's 3.75 per cent worst-case scenario, again suggesting Chancellor Alistair Darling's March Budget forecasts were far too optimistic"
"Mervyn King warned that the recession is 'deeper' than officials feared and the 'mayhem' caused by bank meltdown will do far-reaching damage to the economy... the Bank predicted only a 'slow and protracted' recovery in which redundancies will soar further and more firms will go bust. "
Don't break out the bubbly and race off to an integrated course just yet !