Qualified advisers answering your
Financial Questions
call 0800 092 1245

UK households braced for second credit crisis

The Bank of England is certainly giving the impression that the UK households need to ready themselves for a second credit crisis amid signs that mortgages and loans will be more difficult to secure in the latter part of 2010. This comes at a time when the UK government is slashing the public-sector budget and there is little or no money available to pump back into a financial system which is beginning to creak again.

The prospect of a second credit crisis in the UK is something which nobody had expected after the UK economy moved out of recession in the latter part of 2009. However, a mixture of budget cuts, tax increases and difficulties in the European and worldwide money markets would appear to have squeezed credit markets again and will have an impact in Europe and around the world. So what can the UK government do?

As we have mentioned on so many occasions, we really need to see short-term pain in order to guarantee long-term gain although the pain may well be worse than many had expected. Even though it is unlikely that the UK will return to a double dip session there could be choppy waters ahead!

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