As Lord Young, former Tory minister and advisor to David Cameron, said "a recession can be an excellent time to start a business...Factors of production such as premises and labour can be cheaper". Young just said it as it is: bust businesses leave empty buildings and sacked employees who can be got on the cheap.
The sinking of the UK economy is made apparent by a release in May 2013 from the OECD and the Office of National Statistics. This shows that austerity has not improved our position relative to our competitor countries. In the period from 2005 to 2011 the disposable income per head in the UK has fallen from fifth to twelfth place in the OECD. France, much criticised for eschewing austerity, in the same period moved from four places below the UK to four places above.
Equally telling from these figures is the fact that in this period the UK disposable income grew by just 7%, compared with 22% in France and 19% in Germany.