Economy 2008 Financial Crisis: Britain's lasting scars from the global slump Updated : September 17, 2018 02:33 PM IST Wages in inflation-adjusted terms are no higher today than they were in 2005. Productivity in Britain has stagnated and has played a key role in squeezing Britons' living standards. Government debt ballooned after the crisis and progress in repairing the government's balance sheet has been slow, despite nearly a decade of spending restraint. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.