Britain’s going bust
October 21, 2008 on 4:58 pm | In Debt Management
I am sure you will agree with me that it is near impossible to avoid the daily headlines signalling that more financial troubles lie ahead. As the credit crisis continues to take hold of the economy, everything points to recession. I think we are already in a recession.
As food and fuel prices continue to soar, house prices free fall and concerns over the dire mis-management of the economy widens, the overall picture looks bleak for millions of families in the run up to Christmas.
In the last decade the UK has enjoyed low unemployment, however as the economy continues to slow down John Philpot of the Chartered Institute of Personnel and Development said that ‘a rise in unemployment could be more sudden and sharp than in previous economic downturns’. General Secretary, Brendan Barber of the TUC also warned ‘that it now looks very likely that total unemployment will reach two million during 2009’.
In the past few months there have been significant redundancy announcements at employers from major house builders and financial services companies. In recent weeks there have been job losses announced by:
Aer Lingus
Bradford & Bingley
Lloyds TSB
Northern Rock
XL
The prospect of being made redundant is an increasing concern of workers across all sectors of employment. As our financial commitments are pushed to their limits it may be an idea to think about your financial worries before they get out of control.
If you are concerned about your financial position, don’t delay in seeking professional debt advice. If you are just about keeping your head above the water, there is no better time than the present. At Simple Debt Solutions we offer free, non judgemental advice allowing you to take regain control of your situation.
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