Thursday, April 03, 2008

Credit Crunch: Your Take

Billionaire financier George Soros claims that the economic downturn in the US is the worst since the Great Depression. Now, most experts believe that this is a global phenomenon and that the economic slow down will get worse and could be with us through to late 2009.

What impact, though, will all this will have down at the personal level. April, the start of a new tax year here in the UK, finds many consumers with little disposable income. Water bills, TV licences, Council Tax and Vehicle tax all go up this month. The cost of basic grocery items has been rising steadily with ever increasing fuel costs. It should come as no surprise then that the country has gone into a borrowing frenzy.

Read more from here.