Tuesday, Jan 02, 2007
Hard times ahead for the UK economy
Daily Telegraph: Prospects for 2007
Mark Berrisford-Smith, Senior economist, HSBC:
Consumers are coming under pressure from rising unemployment, higher taxation, the surge in fuel bills and the ever-growing mountain of debt.
Households now owe more than £1.2 trillion, double the level of six years ago, and a fifth more than in 2003 when the Bank of England last tightened the interest rate screw. Under these circumstances, even the two rate rises of recent months will be enough to sap people's appetite for spending.
Further interest rate rises cannot be ruled out......
Posted by archie @ 10:01 AM (135 views) Add Comment
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
No comments have been submitted.
Be the first person to add your comment by completing the form below.