I tend to like The One Show on BBC1, it's around the time I take a break from the Internet to catch up with the family and it's nice light entertainment. Yesterday they were talking mortgages, and the choices still available for those seeking more security in these uncertain times.
The news today shows the continued slide in lending from the banks, not just for mortgages but for commercial lending too. ( BBC News earlier today ). There is a large percentage of the UK economy that relies on the movement of money, the question we all need to ask ourselves is what if there is less money moving?
As with all things, politicians or not, everyone has an opinion right now about the future of the economy and I do not know what goes in the Chancellors "inflation basket" that measures the 2% figure, but it certainly doesn't include anything I buy!
The UK economy has been booming on the back of borrowing, not enterprise, the only winners in the last 10 years have been the lenders. The next phase will inevitably be a correction in personal borrowing levels and an increasingly disgruntled workforce looking to employers to subsidise the high cost of living. I predicted a winter of discontent last year, I saw that phrase written in an article just this week.
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