Budgets & fiscal events· Public spending· Economy and public finances Have we lost our bouncebackability? 21 March 2014 Matthew Whittaker In the light of latest OBR forecasts and the 2014 Budget, this paper considers where anticipated growth can come from. In the absence of widely-shared wage growth, can the UK economy grow above trend without a surge in credit? Or, must we resign ourselves to a period of subdued recovery?