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Firms tighten belts on possible recession, says ICAEW
CRASH_BANG_WALLOP
Posts: 661 Forumite
Businesses plan to cut back on capital investment as the UK economic outlook remains gloomy, a report suggests.
The Institute of Chartered Accountants in England and Wales (ICAEW) says as well as reining in capital spending, firms are cutting back on job creation.
http://www.bbc.co.uk/news/business-16894892
:eek:
The ICAEW/Grant Thornton business confidence monitor shows a negative outlook, at -9.3 in the third quarter as against +8.1 a year earlier.
The ICAEW said it all pointed to the UK returning to recession.
The findings came just days after an influential think tank said the UK economy would enter recession in the first half of the year as households continue to cut back.
The National Institute of Economic and Social Research said the government should temporarily ease its spending cuts to promote growth.
The Institute of Chartered Accountants in England and Wales (ICAEW) says as well as reining in capital spending, firms are cutting back on job creation.
http://www.bbc.co.uk/news/business-16894892
:eek:
The ICAEW/Grant Thornton business confidence monitor shows a negative outlook, at -9.3 in the third quarter as against +8.1 a year earlier.
The ICAEW said it all pointed to the UK returning to recession.
The findings came just days after an influential think tank said the UK economy would enter recession in the first half of the year as households continue to cut back.
The National Institute of Economic and Social Research said the government should temporarily ease its spending cuts to promote growth.
Maidstone Prices - average reductions at 8.5% (£19,668) Feb 2012 - We thought the dudes were not allowed to drop prices?
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I hope they don't panic and suspend the spending cuts. The few billion that they may spend on not continuing with the cuts would be far better spent on measures to stimulate the economy properly, i.e. grants & loan guarantees to small businesses, better training & apprenticeships, better infrastructure etc. I.e. basically anything that may help businesses to grow and expand. Let's spend the money, but in a more productive way for the future good, rather than throwing money away on non jobs etc.0
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I hope they don't panic and suspend the spending cuts. The few billion that they may spend on not continuing with the cuts would be far better spent on measures to stimulate the economy properly, i.e. grants & loan guarantees to small businesses, better training & apprenticeships, better infrastructure etc. I.e. basically anything that may help businesses to grow and expand. Let's spend the money, but in a more productive way for the future good, rather than throwing money away on non jobs etc.
Pennywise i agree 100%! the government dudes dont listen though. is their current policy working?!Maidstone Prices - average reductions at 8.5% (£19,668) Feb 2012 - We thought the dudes were not allowed to drop prices?0 -
CRASH_BANG_WALLOP wrote: »Pennywise i agree 100%! the government dudes dont listen though. is their current policy working?!
Probably too early to say. Can you find any more negative stories this morning?
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Is this report right?
Haven't they just released figures to say the service and manufacturing sectors are booming and that business confidence was up.
It's all very confusing.0
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