Will the UK economy really bounced back stronger?
Gordon Brown's suggestion that the UK economy will bounce back stronger than ever before has given some people hope in the UK but many are waiting for the proof behind the very upbeat forecast. The figures would suggest that the UK is currently weaker than it has been at any time in modern history and taxpayers and consumers are more concerned than ever before about the immediate outlook.
As we have also seen in the US, UK car manufacturers are struggling to make ends meet and this industry will be severely downsized over the next few months. We have also seen a substantial reduction in the number of people employed in the financial sector and well-known companies disappear from the high street. The Internet has come more and more to the fore as more and more UK consumers look for bargains online at prices which few off-line shops can compete with.
Then when you also throw in the fact that the UK taxpayer is set to be hit with substantial tax rises over the next two or three years, to make up for the recent rescue packages, it is difficult to see how the UK economy can come back stronger than ever before.
Share this..
Related stories
Scrap metal thefts increase as the economy plummets
As seems to happen in times of economic hardship fraudulent activity and con artists seem to come out in great numbers with the latest scam involving the theft of scrap metal for resale. The Home Office has today issued a report suggesting the problem is getting worse and has increased by over 150% in the last two years. The cost to the country is estimated at around £360 million and likely to mo...
Read MoreCurrent accounts and overdrafts to experience hike in fees and rates
Customers of Lloyds TSB and Bank of Scotland (BoS) will experience rises in overdraft rates and current account fees from the 2nd October. The two banks, which are part of Lloyds Banking Group, will follow in the footsteps of Natwest, part of the same group, in raising the costs of banking with them. This will mean increases in overdraft rates which will rise by as much as 5%, and in some...
Read MoreStep forward Richard Branson, Northern Rock is for sale!
The UK government will later this week confirm that Northern Rock will be split into a "good bank" and a "bad bank" after expected clearance from the European Commission is confirmed. It has also been revealed that the mortgage specialist assets of the group will be sold in the short term and should raise around £1.5 billion which will be injected back into the UK government coffers.
Read More
Santander ups fees on “123” current account
14/09/2015 Santander, one of the UK’s biggest banks, have announced that they are more than doubling the charges on it’s main current account, leaving customers out of pocket. The current costs of Santander’s main current account stands at £24 a year. In January, this will be increased to £60 a year. The bank will also be increasing the fees on its main credit card from £24 to £36...
Read MoreHow Will The Treasury Decide The Next Golden Rules?
As Gordon Brown and Alistair Darling continue their discrete operation to dump the old golden rules which have were introduced by Gordon Brown, many in the City are asking what can replace them?
There are growing calls for independent advice to be taken from parties unconnected to the government so that there is an arms length debate and resolution. Much like Labour gave the Bank o...