The British economy faces bleak years to come according to King’s speech at the University of Exeter last night (in which no actual references were made to fantasy realms,  Lions, Witches or Wardrobes). King did have this to say to the audience though:

“The patience of UK households is likely to be sorely tried over the next couple of years.

“There is little scope for growth in real take-home pay, which may remain weak even as output recovers. It is clear that inflation is likely to pick up markedly in the first half of this year. The full impact of the financial crisis has yet to be seen.”

Collect your 3-d specs from reception; you’re going to have a front-row seat.