ITV Business editor Laura Kuenssberg asked the Governor of the Bank of England Sir Mervyn King should the public accept that the recovery was not going to take hold and get used to being poorer.
He said the UK will get back to the same levels of growth experienced before the crisis, but that it was "quite impossible to know over what time period."
King also said that it was important to bear in mind that although the crisis started five years ago, the policy measures taken at the time meant that the impact on spending was reduced. This is no longer the case.
ITV News has been asking people on Twitter to share their experiences on how the economic crisis has affected them in the last five years.
The Bank of England has slashed growth forecasts from 0.8% to 0% and has admitted the road to recovery will be long and slow.
In a couple of hours time Sir Mervyn King, or "Mr Governor," will have some grim news for the economy.