Stanley Fink: The UK Economy Will Never Again Reach 3-4% Annual Growth Because People Live Too Long

Hedge fund icon Stanley Fink visited an a prep school recently to discusss his views of the economic climate in the UK.

From MenMedia:

The UK economy will recover, but “only after four or five years of austerity” and never to the three to four per cent annual growth rates it achieved in the past, hedge fund guru Stanley Fink told an audience at Manchester Grammar School.

“I do not think we will ever sustain those exceptional levels of economic growth again because of greater life expectancy, the need to care for the elderly, the diminution of the earth’s natural resources and the lack of cheap energy.”

He said Britain should look to develop new jobs in sectors such as engineering and hi-tech manufacturing, while also continuing to back the financial services sector.

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