The great bank robbers
It has been revealed that 20% of parents in the UK have "borrowed" from their children's bank accounts to tide them over during the ongoing UK recession. This reflects the harsh economic realities which many in the UK are facing up to today and despite the fact that economic indicators suggest the recession may be over, financial troubles will follow many people for a long time to come.
The problem for many people in the UK has been the fact that the cost of living has continued to rise while the average household income in the UK has fallen dramatically over the last two years. This is a situation which is squeezing the finances of families on both sides and causing unrest and significant uncertainty.
Thankfully, during the boom times more and more parents in the UK set up bank accounts for their children and put money aside for their future. However, very few would have considered dipping into their children's savings just two years down the line, with the boom times apparently set to roll on for many years to come!
Sometimes it is a reality check to look back at years gone by to see exactly how the UK economy has changed, developed and, over the last two years, collapsed.
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