The new independent fiscal watchdog set up by Chancellor George Osborne has severely downgraded the economic growth projections for the UK economy. The move could mean that the coalition government will need to cut public spending even further as a slower rate of growth will impact on tax revenue. A senior economist has told the BBC that further cuts could have serious knock on effects in the private sector and could push the country closer to a double dip recession. If the UK were to re-enter recession then the country is likely to see an increase in people suffering from personal debt problems and mortgage arrears. If you’re struggling with a large amount of unsecured debt, then give Debt Free Direct a call today to see how we can help you to become debt free.
UK growth predictions to fall
June 15, 2010 By
