Economy prospects worry Brits
A minority of British consumers are concerned about the economy's direction in the next 12 months, a survey suggests.The 2,000 respondents to a survey carried out for investment management firm Selftrade admitted their worries about a number of aspects of the UK economy.Three in five said they expected the Bank of England to raise interest rates in the next 12 months and 26 per cent said they feared for their job security in the same period.Confusion about the state of UK house prices led 28 per cent to predict a continuing boom in the next year, compared to 18 per cent fearing a crash that would lead to negative equity.Fourteen per cent of respondents said they believed the UK could enter a recession."Our research shows that people are feeling unsure about the UK economy," retail marketing director of Selftrade Neil Jamieson commented."This has obvious knock-on effects on people's perceptions of job and financial security in the near term."He suggested that "monetary tightening" would dampen consumer spending and warned the pessimistic outlook of many consumers also had implications for the stock market."Investors will want to rebalance portfolios if signs emerge of a significant slowdown in the UK economy," he said.
Share this..
Related stories
Middle England set for higher tax burden
The Labour Party has finally come out the closet and confirmed there will be cuts in public sector services in the short to medium term and it appears as though Middle England will again be the target of the Labour party and the unions with ever-increasing taxes expected. Despite the fact that the public service sector has digested billions upon billions of pounds of taxpayer's money over the last...
Read MoreHow much has the UK recession cost us?
While it is very difficult to comprehend the billions upon billions of pounds being mentioned in budgets, national debt and other discussions, how much has the UK recession cost UK taxpayers?
One way to look at this particular subject is to look at government debt and how this is financed. To give an example of where we are at the moment, it will cost the UK government a massive £2...
UK government promises jam tomorrow, again!
As the US economy heads out of recession and into a new growth phase, the UK government is under more and more pressure to turn around the UK economy. Despite the fact that Gordon Brown had indicated the UK would turn around in the second quarter of 2009 we have yet to see any evidence of this recovery and indeed MPs are now suggesting it will be the latter part of 2009 before we see any material...
Read MoreBritons score £24 billion in bonuses
More than £24 billion in bonuses was handed out to UK workers in the last year, financial services firm Birmingham Midshires says.Twenty-nine per cent of 2,000 survey respondents received a financial "pat on the back" from their employers, the research claims, with the average bonus being £1,758.But whereas the number of those being rewarded with a bonus has doubled since 2005, the average windf...
Read MoreUK economy shrinks at fastest rate for 30 years
The gross domestic product figure for the UK economy fell by 1.9% in the first quarter of 2009 which is the steepest fall for 30 years. Analysts had expected a fall of around 1.5% and the figure of 1.9% has shocked many and put further pressure on Alistair Darling's economic forecasts as presented in the budget. This is an even bigger fall than the 1.6% seen in the final quarter of 2008 which conf...
Read More