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The purpose of this article is to acclaim a fact " if private firms invest, rather than hoarding money, the government may hang on for a while, he is too tired"

Nothing new, nothing explosive and nothing intelligent and not a report, not a comment and even not a qualified blog. The only thing the author did by this article is "let's hope". But unfortunatly, such hope can hardly go fulfilled.

History of economic cycle, if you know any, is brim with investment shrink in recession; investment expansion in boom, which we define it as "bubble". It is the last uncommon thing I've ever witenessed in Financial Crisis that people stacked pennies and coins, while private business owners stoped investment. Congratulations to those British firms who refuse to investment at this moment, because they made anything but a reckless decision.

In modern nations, central governments can not hope business activity to revive, instead, they have to use right fiscal and monetary policy. Those non goverment agents are just following their business rational, to avoid futher loss, mitigate financial distress of their balance sheet, and keep the valuable investment in their portfolio, cash.

Reason why Britain did great, well, at least better than other EU countries, is pound. Thanks to Gordon Browm, former Primer who decided not to join EU when he was the chief of Minister of Finance, so pound depreciates accordingly to protect the industry of Great Britain. Besides, money in Europe now all flows into Great Britain (East Asia, maybe) to avoid the endless Eurio Crisis, and such risk aversion activities sustained the investment. Don't grump about low investment, look at your neighbors, their private investment rate is nearly zero.
Government can not hope for more private investment, but they can do something. The interest rate is too low to allow further monetary release, so the only weapon, which is the same to USA, is QE, or rather, let kick off money printers!

We need saving and the budget experience in our daily life. For a  corporation,  saving and the budget plans are  very important.

译文如下:
企业储蓄及财政预算

英国财政部大臣乔治-奥斯本将于3月21号提交他的第三个财政预算报表，届时环境气氛绝不会是那么的温和。在多事之秋之际，这远比他所希望的好的多。英国的经济从去年第四季度衰退以来在今年得到了复苏，这像使得这个国家将避免另一次经济萧条期。在主要出口的市场份额看来，尤其是美国市场，这个国家的前景是可观的。欧元区的经济不景气现在看来可能是相当温和，要知道2/5的英国出口商品销往了这个地区。

国家财政看起来比实际上好得到一点。2011-2012年的国债可能低于四个月前预计的1270亿英镑（1990亿美元），同时比2010年乔治-奥斯本发布第一次财政预算时预计的1160英镑高不了多少。但是财政困难依然存在。惠誉国际在3月14号肯定了英国AAA的信用等级，但是如果未来两年国债比预期高的话就会有降级的可能。11月，财政监督预算责任办公室预计要实现乔治-奥斯本消除财政预算赤字的目标可能要到2016-2017年，这比预期的要晚两年，这也是综合考虑商业周期的影响和ZF的资本支出后做出的判断。总的来说，国债将不得不从目前占到国内生产总值8%的高额在未来五年内降低到仅占国内生产总值1%多一点的目标水平。

在这个财政紧缩的时期，经济得以支撑还得看私营经济的响应。如果，正当ZF竭力借少许资金的时候企业和家庭业主正努力地想要存钱的话，经济就将会动摇。但特别是如果企业停止囤积资金转而将其进行投资和雇佣工人的话，ZF的借贷就会得到有效地削减，以免阻止经济复苏的步伐。

私人储蓄的总额是非常高的。在2011的第三季度，近期我们可以了解到针对各个经济体的借款净额，ZF赤字仅低于国民生产总值的9%。这是平衡于私营经济储存过剩约国民生产总值的6.5%以及国外借债（其金额等于目前的赤字）约国民生产总值的2.5%。部分高储存是自然而又值得的事：家庭业主需要把更大一部分的收入积累起来偿还在信贷热潮期累积的负债。

然而，私营经济的储蓄过剩很大程度上是企业的责任，这些企业不像消费者，他们在这股信贷热潮中没有挥霍无度。非银行私营企业多年从利润中把资金储存下来，而这些利润资金曾都是覆盖了贷款利息成本，奖金派发及其他开支。这些企业的过剩资金最近达到了将近国民生产总值的6%（见图表1）。在已有的大量储蓄上每个季度都在增加。去年，这些私企持有的现金超过了7000亿英镑。企业界的负债净额（贷款金额减去拥有的现金总额）急剧下降。

这导致的结果是很明确的。英国的商业投资环境现在相比于像美国这样的国家是非常疲软的（见图表2）。引起投资匮乏原因更多的是个难题。在英国金融危机爆发前可以解释于英镑本身的优势，推动了消费与其同时提高了生产的相对成本。但是英镑决定贬值到危机发生前的20%，这就使得英国成为了更具体成本效益的投资地方。

企业投资额目前相对较低这不仅是利润的增长也是需求的增加，这本身就已经很缓慢了。企业的产能过剩也并不是很明显。雇主集团CBI发布的衡量工业产能的标准是针对其长期的平均水平。出于顾虑，公司看起来也并不情愿投资太多。如果他们已对银行和更广大金融体系失去了信心，他们有道理囤积一些资金以备不时之需。秋期，欧元区金融危机的逐步上升使得企业更加投资的谨慎.

Consumer spending, business investment and export, the "three carriages" pull the economy, are sluggish at the same time in Britain. It seems the prospect of Euro zone economy is far from optimistic.