Paul Gascoigne faces bankruptcy
Former football idol Paul Gascoigne is today staring bankruptcy in the face after being given nine weeks to repay taxes due to the inland revenue. Gascoigne has apparently failed to present his tax return for the last two years and while his advisers suggest that he has more than enough assets to pay the funds in question there is concern for the fallen star.
While Gascoigne's particular troubles may be specific to his lifestyle and his spending habits, over the next 12 months we will see a massive increase in the number of bankruptcies in the UK, both corporate and individual. The knock-on effect from a slowing economy will take time to filter through and those who are looking at current bankruptcy numbers remaining stable will be in for a shock in due course.
Unemployment in the UK is set to soar over the next 12 months as a serious reduction in economic activity continues to filter through to company bottom lines. Even now we are seeing the number of redundancies start to pick up with more and more companies reporting dire trading. Those who feel under financial pressure need to take advice as soon as possible in order to receive a professional opinion about the state of their finances.
Share this..
Related stories
Why an emergency fund could literally save your life
Even in the boom times it appears that more and more people in the UK were still spending more than they actually earned which was in effect building up substantial debt problems for the future. As the boom times continued to roll, more and more people began to subscribe to the feeling that these times would last forever and allow more people to "enjoy" the high life. How useful would an emergency...
Read MoreAre UK green policies actually working?
While there have been many new green policies introduced to the UK, one which has caught the eye has been a reduction in plastic shopping bags around the UK. However, while official government statistics show that 48% fewer bags are being used today compared to last year, Tesco came out with a figure of 50% which appeared to have gazumped everybody else.
However, it now looks as th...
Petrol could rise to over a pound a litre
Petrol prices could soon rocket to more than £1 a litre, as the government's two pence rise in fuel duty comes into force today.Analysts are warning motorists that the average price of unleaded petrol could rise to about 98p, while diesel could reach as much as £1 a litre.This pattern looks set to continue, with a further two pence fuel duty rise planned for April, in what the government claims...
Read MoreGordon Brown's social housing programme under scrutiny
When the UK government announced a £1.5 billion social housing programme which would see 20,000 new homes built across the UK for those on low incomes and council house waiting lists, traditional Labour voters clapped their hands with enjoy. However, as Parliament goes into recess it has been revealed that the £1.5 billion required to fund his social housing programme in the future is not availa...
Read MoreDoes the homeowners mortgage support scheme really help?
As the recession continues to bite into the UK property sector, more and more people are struggling to cover their monthly mortgage payments and looking for assistance. While the homeowners mortgage support scheme has been in place for some time there is some controversy regarding the basis on which the scheme operates.
In simple terms, households who see a significant drop in their...