100,000 British companies in financial trouble
A report by Begbies Traynor claims that upwards of 100,000 British companies are in serious financial trouble with over £58 billion of debt between them. There are also 50,000 other companies likely to be hit by UK government cutbacks which will make the situation even worse and potentially tip tens of thousands more companies over the edge. There is no doubt that beneath the surface there are many companies struggling to survive and any lurch downwards by the UK economy could have a catastrophic impact on the UK business arena.
The report by Begbies Traynor is a major blow to the UK financial arena although thankfully UK banks have grouped together to create a £1.5 billion rescue fund for small to medium-sized businesses. Whether this is too little too late remains to be seen but there is no doubt that UK companies do need increased liquidity and they need it quickly!
Inflation in the UK continues to remain stubbornly high, unemployment in the UK is creeping ever higher and the economy is under major pressure. The higher unemployment rises the more pressure this places upon the welfare state and ultimately we could see many of the budget cuts introduced by the government negated by a massive increase in benefit payments.
Transport in north of England set to be improved
20/03/2015 The government has announced plans to overhaul transport across the north of England, helping to create a “northern powerhouse”. The National Transport Strategy has detailed plans to renovate the north of England’s transport system, including a multi billion pound rail scheme, improved road links and faster train times. There are also proposed new routes in the strategy whi...Read More
Who should have seen the economic collapse heading towards the UK?
As the Treasury select committee continue the government's onslaught against the UK banking sector it would appear that it was not only the UK banking companies which were caught out by the recession, but the government itself. When pushing for an explanation as to why various UK banks had not been able to monitor and react quickly enough to the ongoing banking recession it was suggested that the...Read More
The hidden cost of New Year celebrations
A report out today by the Policy Exchange has cast a very different shadow over this evening's New Year celebrations with an estimate that it will cost the NHS £23 million to treat patients who have drunk too much over the next 24 hours. This is a damning indictment of the drinking culture in the UK and the underlying cost to the economy which is often hidden from view. This is further fuel to...Read More
Alistair Darling calls the end of the recession
Chancellor Of The Exchequer Alistair Darling will tomorrow call the end of UK recession confirming his belief that the economy will move into positive territory around the turn of the New Year. He will make his forecast in a Guardian article to be published ahead of the G20 meeting in which he will appreciate there are still risks to the worldwide economy, but he believes the UK will follow the li...Read More
Libor hits a new high
Even after news that the US bailout had been voted through there seems to be a general lack of trust and confidence in the money markets. Indeed we saw the Libor (London Interbank Offered Rate) hit a new high today just as authorities around the world had been praying for a return of confidence. It seems that the US bailout has yet to have the impact which many had forecast. So what next?