Despite the fact that the UK’s (official) economic figures are slowly improving, there’s always a cynic that likes to pick out the negatives.

If you more inclined to listen to Swiss Banks than our esteemed politicians, here’s why one of them is saying UK plc is buggered. Andrew Garthwaite of Credit Suisse just issued his global equity strategy note, to summarise the UK:

1. The Fiscal Deficit Is Enormous – the worst in the OECD

2. And the worst according to the IMF

3. The UK government remains the largest buyer in its own bond market – only Japan comes close and we all know what a shining example of debt management the Japanese are

4. UK QE as a % of GDP is far greater than any other country

5. The spread between UK and US and Eurozone inflation swaps has widened in the last few years – i.e. inflation is on its way

6. UK household liabilities to income ratio is horrible – even compared to the US

7. Core CPI is worse than everywhere else

8. House prices are facing a double dip

9. But housing is still overvalued

10. And the polls make a Consevative rescue look increasingly unlikely

If you need to see a scary series of charts to verify this sorry state of affairs for yourself, visit FT Alphaville. Or check out one glaring offender below.