Double Dip?

It is clearly going to be a cliff hanger as we wait and see whether the OECD is right about the UK sliding back into recession in the early part of next year. Is there enough time to avert a return to recession? What can the government do? From reports in the press it seems that the government is not going to make further cuts but instead is going to increase its borrowing and use the money to fund things like more school building. The reports go on to suggest that the government will pay for the cost of the loans by raising taxes through another form of bank levy. One only hopes that enough banks remain solvent to be able to pay for the new levy since it is clear that the euro is going to implode of its own absurdities and bring a number of banks including French and Germans ones. The reports of what the government is intending doing seem like a gambler's last throw of the dice. If the gamble pays off that's fine but if it doesn't then there will have to be cuts and probably cuts of a magnitude that we would not have had to contemplate if the cutting had been done earlier. The cuts will not spare us from tax hikes either. All of which will slow down our exit from these straightened times.