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Business sentiment hits rock bottom

Business sentiment with regards to the future of the UK economy is now at levels not seen since the depths of the recession in May 2009. It seems that many business leaders believe that the UK economy is headed for choppy waters and more and more business associations are now calling on the Bank of England to reintroduce quantitative easing and other fiscal stimulus programs. So what has turned sentiment on its head?

Only a few months ago businesses had been looking forward to the UK economic revival with hope but over the last few weeks we have seen a decimation of sentiment. It seems that business leaders, according to BDO Business Trends survey, are now convinced that the UK economy is struggling and slow growth is expected at best with a contraction in the UK economy still a very real possibility. So what can the UK authorities do?

There is no doubt that the Bank of England is under pressure to reintroduce the quantitative easing programme and increase the funds available from the current £200 billion to around £250 billion. It seems that the UK government has already "unofficially" given the Bank of England the green light for this particular activity but we have yet to receive official confirmation from Mervyn King and his colleagues at the Bank of England.

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