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UK back into Recession
16/01/2012
Regrettably the UK is back in recession and unemployment is coming close to three million, not a good start for 2012.
The debt crisis in Europe is stumping the economic recovery of the UK economy reports Ernst & Young Item club as it reduces its Gross Domestic Product forecast from 1.5 per cent to 0.2 per cent. Recession is defiantly on the UK’s doorstep yet again, with The Right Equity Release you can increase your retirement income by releasing tax-free money from your home. Use the Right Equity Release Calculator to find out how much you could release from your property, especially when times are hard and especially now when the UK is in yet another double dip recession.
The crisis is predicted after nine European countries had their credit ratings reduced, therefore causing the world stock markets to plummet and furthermore increasing recession.
Forecasters had hoped due to poor public and consumer spending that exports and business investment would help stop the UK economy going back into recession. Sadly this has not happened due to the uncertainty about the future of the Continent and the Euro. The Right Equity Release can help in these times of uncertainty, pay off a mortgage or help your children get on to the property ladder, why not use the Right Equity Release Calculator and determine how much you could release.
Due to the poor figures released in the last three months of 2011 The Sunday Telegraph quoted Professor Peter Spencer, chief economist at the Item Club, “Figures for the last quarter of 2011 and the first quarter of this year are likely to show that we are back in recession, and we are going to have to wait until the summer before there are signs of improvement.”
Professor Spencer had also admitted that “the Item Clubs predictions were based on positive assumptions about the European policymakers’ ability to keep the Eurozone from falling apart.” Standard & Poor’s decision to slash credit ratings of European Countries has been criticised by the European Commission vice-president of economic affairs, Olli Rehn. He insists the downgrades are “inconsistent, claiming that the Eurozone was taking decisive action over the economic crisis.”
Britain will be struggling again at the start of 2012 and it doesn’t look like any growth will happen in the UK until the summer. Why not increase your retirement income with The Right Equity Release, beat the recession, pay off debts or plan future holidays with equity you could release from your home. Arrange one of our free no obligation meetings and get some independent advice from a specialist adviser who will go through a full fact find with you. In the meantime use our Right Equity Release Calculator and answer a few simple questions and see how much equity might be available when releasing funds from y our home or property.
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