Property Buyers Help You Raise The Cash You Need
Published on October 5, 2011 | Author: admin
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With even the UK’s biggest and most seemingly indestructible retailer, Tesco, admitting to lacklustre company performances, many consumer-focused businesses in Britain are feeling frustrated with David Cameron’s call for spending cuts. The British economy is disproportionately dependent on consumer spending: it represents not far off two-thirds of British GDP.
There have been many arguments, both publicly between politicians and privately between common citizens, about how would be the best way to solve British debt. Many believe that David Cameron’s tactics are too harsh and would mean a prolonged financial suffering for everyone except the very wealthy.
Cameron has publicly announced that he doesn’t want UK households to borrow more money and instead pay back what they already owe. However, family budgets are already incredibly tight and in order to find cash available to increase repayments to cover existing debts, consumers will have to radically cut back on how much they spend in places such as Tesco, Marks and Spencer and at other British shops and businesses.
This could be disastrous for the British economy as it stands, but could be a way to reconstruct it and make it less dependant on debt-funded consumer spending and instead focus on the export of goods and services.
Having said that, manufacturers only represent 12% of the economy. So if households do what Mr Cameron wants, and continue to pay back their debts, it is very difficult to see how the economy can grow at much more than 1% or so per year for many years to come.
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