Qualified advisers answering your
Financial Questions
call 0800 092 1245

CBI raises doubts about UK economic recovery

The latest quarterly survey from the CBI has highlighted the fact that many UK banks and building societies believe that the recent increase in lending will collapse in the first quarter of 2010. While many people are becoming more and more confident about the UK economy, due to the fact there has been an increase in lending over the last six months, many banks and building societies believe that the faltering UK economy will have a massive impact upon their income and their profitability in 2010.

The CBI survey, seen by some as a nightmare scenario, would indicate that the financial sector is concerned about profitability during 2010 and 2011. In a similar call to that given by Justin King, the chief executive of Sainsbury, there is a growing feeling that many in the UK are still to realise how deep the cuts from the recent recession have been. The UK economy has been decimated over the last two years and without the introduction of billions upon billions of pounds of taxpayer's money we may well have been looking at a depression rather than a recession.

Despite a more upbeat end to 2009 we are seeing more and more downbeat forecasts and indications for 2010.

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details