Newspaper reports former UK Business Secretary Sir Vince Cable comments:

  • Says the UK's economic recovery is 'precarious and unbalanced'
  • UK elevated levels of household debt, house price inflation and the growing risk of a financial crisis emerging in China as reasons for concern

'Is not the brutal truth that the growth of the British economy is sustained by consumer spending pinned against record levels of personal debt, which is secured, if at all, against house prices that the Bank of England describes as well above equilibrium level?'

He makes not unreasonable observations. Lets see how GBP opens on Monday, if there is any response from it of his opinion.

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