Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

Loan Protection: UK will not recover from recession until 2015, says BCC

It could take between four and five years for the UK to achieve steady growth after the recession, according to the British Chambers of Commerce (BCC).

A recent report by financial services firm PricewaterhouseCoopers (PwC) has revealed that the total UK public and private debt is forecast to reach £10 trillion by 2015.

Furthermore, GDP is still predicted to be below £2 trillion in five years time.

David Kern, economic advisor at the BCC, agreed with the PwC findings and claimed it may be years before growth returns to pre-recession levels.

He said: "What we may achieve is a better position [than we are in now] but I think there will be permanent losses from the recession.

"Some of the output we lost will not be recovered. However, I think we are going to come to a place where we can achieve steady growth, but from a lower base. I think that it will take about four or five years."

In 2009, the total UK debt was around 540 per cent of GDP, and increase of around 340 per cent compared to 1987.

Posted by Samantha Clarke

Samantha is a former banking assistant and has over ten years experience in retail banking ADNFCR-2776-ID-800231472-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide