The belt-tightening after 2008 hasn't continued; did it really even start? All I see and have seen over the last decade is people spending like crazy, wanting everything now, the austerity that never was...there may be trouble ahead.
Click on image to link to article. You will find more infographics at Statista
"The rate at which UK institutions, households and businesses are borrowing money is greater than that of all other OECD countries. This fact is alarming some economists not only because the rate of UK borrowing is high against the country’s GDP, but also because households, business and state coffers are running a deficit simultaneously for the first time since the 1980s"....
" Not included in the data by the OECD are overseas investments by Britons as well as foreigners’ financial business in the UK. Here, another troublesome statistic emerges. While the UK had been running a net profit for overseas lending and borrowing in the past, the situation has reversed since the financial crisis."