Unemployment rates in Britain are lower than at any time since the 1970s, and according to a survey conducted by recruitment agency Adecco, employers plan to hike wages by 1% over the next year, after a 1.5% increase in the first half of this year.
But despite this, British workers are likely to become worse off, because inflation rates are stubbornly refusing to come down, and the Bank of England have no immediate plans to increase interest rates. Read more
It’s amazing to think that the Bank of England has not raised interest rates for more than a decade, but then nobody expected the credit crunch, quantitative easing, or indeed the “age of austerity” that George Osborne introduced during his time as chancellor.
That’s a lot of jargon to digest, but digest it we have, with the result that most of us have tightened the purse strings and tried to take a more frugal approach to our finances.
The big question now is, how much longer will we have to endure this financial stasis? Read more
Britain in Debt? The signs are not good. According to an article in today’s Times, the balance of Britain’s credit cards as a whole is closing in on £70 billion pounds, unsecured credit lending is increasing year on year, and the rise of concepts like payday loans and un-arranged overdrafts are causing consumers to fall further and further into debt. Read more