The rate of economic recovery should be slow burning as debt needs to be played down, it has been said.
Melissa Kidd, economist at Lombard Street Research, revealed lending should not pick up too quickly as excessive lending will boost demand.
"I’m not sure I think the financial markets are very innovative and we will always end up with some next big thing that people want to pile their money into," she continued.
Ms Kidd hopes the UK economy will rely less on debt and take advice from other economies such as that of Germany, where people are putting more money into their savings.
According to a study published by the CBI, businesses are finding it easier to obtain new credit for the first time this year, and expect the situation to improve at a similar rate over the coming three months.
However, its Access to Finance Survey also shows that the cost of finance has continued to rise and there has been another marked deterioration in the availability of trade credit insurance.