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UK retail sales under serious pressure

It has today been revealed that UK retail trading conditions are the worst for 25 years and a substantial number of retailers are expected to go under in the New Year. We have already seen the likes of Woolworths, Zavvi and JJB Sports hit the headlines although this according to many experts is just the tip of the iceberg. With Woolworths expected to close in the New Year, with the loss of over 30,000 jobs, confidence on the high street is at a record low.

The much rumoured interest-rate reduction, with some suggesting a move to 0%, would normally be expected to have a positive impact on the UK high street but such is the doom and gloom in the country and the lack of money in consumers pockets that nobody is quite sure what will happen. The government will take a large risk if they do move interest rates down to 0% (or near this level) and also risk the wrath of savers who have been under severe pressure and seen their incomes slashed over the last few months.

The problem for savers is the fact that as interest rates fall they will need to use more and more of their capital to survive which reduces their nest eggs for the future.

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