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While many in political circles were surprised that Gordon Brown brought back his archenemy Peter Mandelson to the government there has been little in the way of controversy before today. However,...
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Monday 25th August 2008
There has been a marked rise in the number of legal enquiries from businesses looking to reduce their workforce as the credit crunch and economic slowdown continues to grip the UK market. This news follows recent reports that Marks and Spencer was looking to reduce the package available to those made redundant by the retail giant – something which the Unions have complained about. So are we on the verge of major redundancies across the UK?
There is no doubt that the UK economy is set to fall further with inflation sucking the last of any spare funding which the consumer. Business levels are falling across the board, finance is proving very hard to come by and there appears to be more doom and gloom just around the corner. Even the Bank of England – which has attempted to remain as upbeat as possible throughout the credit crunch - now seems resigned to the fact that a major slowdown, if not a recession, is inevitable.
The next few months could see the UK economy take a further lurch downwards which would kill any trace of consumer confidence in the fragile economy. If the UK consumer loses yet more confidence in the economy we could be in real trouble. |
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