But how sustainable it is after that is where his doubts set in especially if sterling continues to strengthen as it has over the past year or more. He also outlines his concerns over the wider European economy which, as the UK’s largest trading partner, we have a huge dependency on and questions where its economic pick-up is going to start from.
There are plenty of issues outside the direct control of the UK, its government and its Central Bank but Lord King would still like to see a number of measures to instil confidence in a continued recovery.
As well as boosting investment in the UK, he outlines what he would like to see introduced on the supply side to make sure households are also happy managing the debt they have and be more relaxed about spending.
The risks to UK investors, according to Lord King, are increasingly because of globalisation combined with the move of UK investors to more international portfolios.
This means that among other issues to contend with, geopolitical threats – from Syria, Russia in Ukraine, friction between China and Japan – all have an impact on UK investment portfolios.