You are here: Home - Investing -

BCC: UK recovery ‘yet to be secured’

0
Written by:
08/04/2014
Policymakers risk the UK economic recovery stalling if they fail to address its "undue reliance" on consumer spending, the British Chambers of Commerce has said.
BCC: UK recovery ‘yet to be secured’

In the introduction to its quarterly report, BCC chief economist David Kern acknowledged the economy apppears to be growing at a solid pace.

But he continued: “The recovery is not yet secure. UK growth is still unduly reliant on consumer spending, driven by a buoyant housing market and a falling savings ratio. The very large current account deficit also poses risks.”

If the government and the Bank of England want to maintain the pace of growth, they must address the economy’s structural problems, he said: “Unless investment and net exports can make a bigger contribution to growth, there is a risk that the recovery will stall.”

In March, the Office for Budget Responsibility raised its growth forecast for the UK to 2.7% for 2014.

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

If one of your jobs this month is to get your finances in order, moving your savings to a higher paying deal i...

Coronavirus and your finances: what help can you get in the second lockdown?

News and updates on everything to do with coronavirus and your personal finances.

Everything you need to know about being furloughed

If you’ve been ‘furloughed’ by your company, here’s what it means…

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
BLOG: What really needs to change to get people saving

Could we be reaching a turning point? Does the Budget represent a significant shift to developing a sustainable approach towards...

Close