UK Economy · Uncategorized

Economic Security on the Cards for 2016?

 

As we start preparing to move into 2016, I suppose we should be looking at what the economic situation looks like for the new year. While official figures confirm GDP growth slipped in the 3rd quarter, experts in the science of economics seem to think that  GDP growth should move at a steady pace in 2016 and that  UK interest rates are to stay put until 2017. On the other hand some top economists suggest a hike somewhere in 2016. The slowdown in UK growth is going to put pressure on the Bank of England to put off the first rate hike for a while. UK businesses are expecting continued growth into 2016 as business optimism increases even though there have been warnings of a global recession on the horizon.

getting rid of debts

Since 2010 the UK has been the joint fastest growing economy in the G7. Not only that, the Spending Review sets out how the UK government will cut the forecast deficit by three quarters by 2016, eliminate it by 2020 and deliver a £10.1 billion surplus, putting the UK in a strong position and ensuring it can start to reduce its debts. The world may be in turmoil, but it looks good to be in the UK in 2016.

For now we can relax and enjoy Christmas; keep an eye on the finances but have fun. One of the online loan companies I have used sent me an amusing link, Which Christmas personality are you?  Apparently I am conscientious so I can expect success in all areas of work in 2016…

 

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