Bank Gloom Covers Fiscal Skies in the UK

The recent stock market tumble has caused worries for a second Recession in an already unstable UK. The crash has however, not sent the investors and bankers scurrying for cover, as they had done in 2008-2009.


Bank of England, on the other hand, has called for slight depreciation of growth forecasts – which will have long lasting impact on the world economy as well as the next five years’ worth of practical fiscal growth.

Chartered tax accountants have also predicted a stalled economy in the future with larger tax cuts looming in on the investors’ plans to re-invest and kick-start the stock markets. Even forex markets as well as financially independent sectors like entertainment and tourism have suffered – with most of the ire coming from the neighboring states and Eurozone countries themselves.

With the country indulged in two wars, in Afghanistan and Iraq, and also trying to control flaming popular outbursts like the Brixton & Tottenham riots last weekend, the UK economy is slowly losing the grip on the recovery path that many thought was in close sight after the Cameron-Clegg government took over from Brown.

If you are looking for great tax planning initiatives, especially in the real estate sector, well, UK is not exactly the dreamland you thought you were looking for. The final nail in the coffin would be a credit rating downgrade akin to USA’s, but that is too early to predict now.

Do you think the economy has the potential to recover soon? Let us know through your comments on the Blog soon!