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| UK Spotlight |
On the eve of what is sure to be Alistair Darling's most important political statement there is speculation and counter speculation about how he will address the situation of the UK economy next...
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Saturday 9th August 2008
A survey by Accenture has brought home the harsh reality of life in the UK as the credit crunch rolls on and the economy continues to falter. The information gathered shows that two thirds of UK consumers have less disposable income than they had just 6 months ago and over sixty percent expect to see further reductions in the short term.
This has put serious pressure on the ability of many in the UK to actually put money aside and save for their future. As you might expect it is home owners who are taking the brunt of the pain with living costs rising and more people than ever before struggling to meet their monthly mortgage payments. House repossessions are on the up, credit card debt is still very high and we are only now seeing job stability becoming an issue for many areas of the working population.
How worse the situations becomes will depend on how deep the expected recession extends and how the UK government respond to the problems. Talk of various life boats to help those in need has not really had any meaningful impact and there are concerns that the government do not have the funding available to make a real difference. |
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