UK Recession

by **Lou** Mon Aug 18, 2008 4:19 am

Recession looms in the UK in the next six to nine months as firms face "a difficult and risky climate", the British Chambers of Commerce warns.

UK growth will be slightly negative or zero in the next two or three quarters, but a major recession is unlikely, the BCC says in its latest forecast.

But prospects will be worse if interest rates are not cut soon, it adds.

The BCC predicts UK unemployment will rise by between 250,000 and 300,000 in the next 18 months to two years.

That could take the jobless total to more than two million for the first time since Labour came to power in 1997.

http://news.bbc.co.uk/1/hi/business/7566792.stm

I must admit I have been cutting down on my spending lately. Food is just so expensive now, my food bill has increased by about £20 a week (thats on top of the extra £10-£20 a week I spend extra in the holidays). And I know I went up the lakes yesterday, but thats the first time in ages, when I used to go every week, but the cost of petrol is ridiculous and lakes driving is the most uneconomical because its stop/start all the time rather than constant speed like on the motorway.

I remember the recession of the 90's, so I hope things dont get that bad again.

by **HiJo** Mon Aug 18, 2008 4:41 am

Home repossessions up, bankrupticies up, fuel bills through the roof, same with petrol. Our esteemed leaders are so cossetted with their huge salaries and mortgage help they don't have a clue what it's like for the rest of us. :wall:

UK Recession

UK Recession

Re: UK Recession