FINANCE HELP
This site is intended as a free reference resource , offering commercial
& personal financial help during this current time of bust as
the global recession takes hold . Information is obtained from selected
professional sources but no guarantee is made on accuracy so please
only use the site for reference only.
Latest Credit Crunch News
(Report By A. Bartley for Finance Help)
Chancellor Alistair Darling has established an unprecedented £50
Billion direct lending pool for businesses paid for by tax payers
via the Bank Of England, thereby bypassing the traditional lending
route of the high street banks . Additionally they have made the
major policy decision to sink a further 200 Billions of UK money
into the broken banks in an attempt to get them lending to each
other again .
The good news - Interest rates have falling again this month (Jan
09) to 3.1% (almost a massive 25% drop)
How The Credit Crunch Is Affecting You
Millions of savers are still only just waking up to the fact that
interest on savings has crashed from 7% (2nd quarter 2008) to only
about 4% and likely to fall again shortly - now is the time to shop
around if you haven't done so already!
Bank shares have dropped massively following the near privatisation
of RBS (governament now has 70% holding) , this will undoubtedly
affect many pensions (this will be a major problem for those just
about to draw a lump sum - but hopefully in long term things will
recover somewhat) . But shareholders are not happy with the banks
being as good as privatised so short term selling of shares is rampant
The 15% VAT rule has caused misery for some businesses , having
to adapt their price tags and accounting practices whilst it is
doubtful whether the 2.5% reduction has attracted consumers to spend
more , however as VAT is paid on most goods and services it was
quite a clever move to take less money from everyone's pocket
Comments
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You
can read more about cashback and over salient topics in our
financial forum , where debt advisors , loan brokers etc and
cusomers looking for finance can participate , here we keep
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