Monday, Sep 24, 2007
Savings back in fashion in debt riddled Britain
Times: Record savings as credit crunch hits
UK families savings rise by £10bn to £47bn whilst borrowings excluding mortgages fell from £8bn to £4bn in the second quarter of 2007. This is a very large swing in percentage terms and may well account for falling corporation tax receipts as consumers slow their spending.
Posted by enuii @ 05:04 PM (673 views) Add Comment
4 Comments
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1. dohousescrashinthewoods said...
Wow! Good on the consumers. Could it be that a significant proportion is STR proceeds?
2. tyrellcorporation said...
This is Gordon's worst nightmare! People actually thinking about the future as opposed to engaging in the UKs casino culture of live for today and doing the big Vs to the future. Its long overdue!
3. Mark said...
i dont get it, if people are saving, why are people struggling??
Are we being fed the usual BS?
4. Jolo said...
Maybe thats why the tide is turning. The reckless are starting to have second thoughts on what they are doing and there's no-one else spending. As tyrell said it's about time. I for one was quite surpised by the NR situation on how many people had that amount of savings! And that's just NR customers. I'm glad this whole fiasco was all televised as that could be the reason the reckless have stopped spending and now want savings. Hold on to your money all!!