Too many of the new jobs created since 2010, over two million of them apparently, are self employed and while some of these will be successful and enterprising start ups, too many are hand to mouth efforts to try and work at whatever and for however little, just to keep going. Wage growth at 1.8% cannot for long sustain economic growth of 3%.
Moreover there is the ever pressing issue of debt expansion and asset inflation in an economy operating at close to nil inflation. Too much of the economic activity is in the financial sector relative to everywhere else in the real economy, and too much of that is in London and the South East. So there is no cause to celebrate anything other than survival and every reason to press forward to find a better and fairer economic model.
As for interest rates. This saga has become a farce. Every time it is proposed to use this tool, it is put back in the box and every time the reason is given, it is the wrong one. Had interest rates been eased up earlier, sufficient to provide savers with a return and sufficient to curb asset inflation, we would not be in quite the uncertain place we are now.