Tuesday, January 2, 2007

Hard times ahead for the UK economy

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 (565 views)
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