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back to article Business failures to rocket as growth nosedives

UK economic growth will soon slow to its lowest level since 1992, while a drop in consumer confidence combined with a hike in costs could signal a near 20 per cent rise in businesses going bust, two new reports have warned. Employers’ group the Confederation of British Industry (CBI) and leading accountant BDO Stoy Hayward …

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  1. Tezfair
    Flame

    no real surprise here

    Lets see, Fuel is up, 10% personal tax gone, 10% business tax relief gone.

    Businesses in the UK rely on each other, especially in the IT service industry so when there's signs of having to tighten the belt then companies are more careful on what they spend. Its a knock on effect that runs down the chain.

    However, there's always one area of the market that will forever have work - manual workers.......hmmmm, hang on, the poles are covering that and sending all their money abroad. No jobs there then...all taken.

    Well I guess we can always sit back and watch the tank drivers moan about their poor salary when most people are on half of what they earn. Perhaps when they realise that people use their car less, then less fuel is being used, so then they don't need to deliver as much, so then they will be made redundant. Oh the irony.

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  2. Anonymous Coward
    Unhappy

    britain overvalued

    Is The UK really worth so much more than some of these eastern european countries? What makes a UK worker so much more special.

    And as far as housing goes everyone seems to expect to own their own home as a god given right no matter what the ability or income level.

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  3. Anonymous Coward
    Anonymous Coward

    Shake up of the market

    The UK is overvalued, on so many things, with the banks creating a little exodus to more central locations on the continent we are set to become quite minor players in the grand scheme of things.

    As to owning your own home, well there is a God given right to the land, no human made the earth, all land is effectively stolen if you have more than your fair share.

    Labour has wrecked this isle there is no doubting that, but there is still opportunity I suppose, we just have not kept hold of anything that is worth a lot in the macro scale.

    Still if food prices tumble, and we all go back to horses for transport, fine in my book. And if technology replaces the great shopping malls with more cost effective but now delivered by horse items so what, more land for people to live on. I would love to see the pound get a trouncing, we would have to start producing stuff again for ourselves, back to simpler times, but this time with the aid of technology it should be quite interesting.

    Manual labour is not going to be rated highly at all, it will be cybernetics, and it won't be the robots so much rebelling, as the people without the ability to contribute to the new society that will be. So, I suppose we are also looking at an increase in surveillance and automated enforcement systems, along with higher degrees of civil unrest. We can all thank labour for that one, they really didn't know how to conduct ourselves on the world stage, or keep home and country together.

    Still sort out the land, and who really cares, we only have to worry about invasion then, with less money to pay the military which has already taken a beating. But, we have the bomb, and probably still enough pennies to threaten that around if someone comes a knocking.

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  4. Adrian Esdaile
    Dead Vulture

    @ Business failures to rocket as growth nosedives

    Your headline made me feel dizzy.

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  5. Andrew Meredith
    Thumb Down

    Add my business to the tally

    I will be closing my doors after 8 years in business for myself. As of last September my monthly takings were an amount I should be taking every two or three days.

    Why? When I asked my customers, the response was that they were cutting back in case there was a recession. Were they at that point feeling the pinch? No, but we might in the future. I heard this message again and again. So of course the companies that were suppliers to them, themselves had to cut back and so on and so on until it reaches back to the start and fulfills the prediction. So, we once again enter a media inspired recession. The message of scares and paranoia from the press and telly makes it happen in reality.

    It wouldn't be so bad if we had the usual cycle of good times, bad times, good times etc. Instead we have had average times, bad times, average times, bad times; so there's no profit from the good times to last us through.

    Well done people and here we go again.

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