|
archived news blog
July 2010 (49)
June 2010 (61)
May 2010 (51)
April 2010 (46)
March 2010 (60)
February 2010 (45)
January 2010 (47)
Increase in risk of a second recession, says think-tank. Pearson May News Update - Friday 30 July
- UK skills training needs radical overhaul
- Increase in risk of a second recession, says think-tank
- Self-employment declarations should be respected
- Savers not being told about interest rate changes
- Compulsory retirement age to be retired
- Prospect of rise in energy costs for business
- Government publishes a raft of tax consultations
- Companies urged to publish up-to-date financial information
Increase in risk of a second recession, says think-tank
The chances of the UK economy entering a second recession next year have risen, according to the National Institute for Economic and Social Research (NIESR).
The leading think-tank said that measures introduced in the emergency Budget had increased the risk of a fall in output in 2011 from one in seven to one in five.
Launching the NIESR's quarterly, Ray Barrell, its senior research fellow, said: "The fiscal contraction in the emergency Budget is likely to slow growth by 0.1 per cent this year and 0.4 per cent next year.
"The probability of seeing a contraction of output in 2011 as compared with 2010 has risen from 14 per cent to 19 per cent. The chart in the Office for Budget Responsibility forecast would imply the same rise in probabilities."
The NIESR downgraded its growth forecasts for 2011 from 2 per cent to 1.7 per cent. It also predicted that inflation will stay above 2 per cent into 2012, fuelled largely by the looming VAT increase from 17.5 per cent to 20 per cent.
Business General
This section contains a host of advice and information on a range of business matters, from insuring your
business to dealing with employee absence. Simply visit the topics listed below for further information,
ideas, tips and strategies on how to take your business forward.
Click here for more information
See What's On Our Site
Our site also contains:
- A huge database of business information
- Your portal to the web with our powerful search facilities and Links section
Home | Contact Us | Recruitment | Services | News | Knowledge Centre | International
About Us | Companies House Search | Links | Search | Register | Logout
Terms
and Conditions
Technical Problems - email service@pearsonmay.co.uk
Copyright © 2009 Pearson May. All rights reserved.
