Britain’s Christmas Blues Worsened by the Economy
Perhaps the most perplexing characteristic of the Christmas season is how devoid of relaxation it can be. Enjoyable as they are; shopping and gift giving, along with the endless array of parties, dinners and other social gatherings leave you drained both mentally and physically and some look forward to a return to the grind. This year however, some of us were forced to spend time analysing the current state of our fumbling economy. Now that the new year has begun, optimistics may have hoped that the doom and gloom of 2008 would become a distant memory like the drunken haze of New Year’s Eve. However, there is no denying that the current mess is not yet over, and in some cases the worse is yet to come.
The Chartered Institute of Personnel and Development reported on the 29th of December that 600,000 Brits could lose their jobs next year, making 2009 the worst year for job losses in nearly two decades. You can hear the report on the BBC.
Conversely, Gordon Brown and the labour party have recently unveiled a new plan to create 100,000 jobs. Whether this plan would be enough to halt the downturn or soften the blow is anyone’s guess.
Late last year, leading realtor Knight Frank commented that the government’s existing efforts at stimulating the housing market were unlikely to have an immediate or significant effect, and today the state has outlined a further plan to aid those already in trouble of losing homes due to substantial mortgages. A report was released regarding the Support for Mortgage Interest’s extension to include benefits of up to £200,000 – double the previous limit. Waiting periods are decreasing, payments can be deferred up to 2 years and lenders are joining schemes to defer payments.
For those of us feeling mostly secure in our current jobs, there are numerous independent groups providing free survival information for 2009, on websites such as Every Investor and Fleet Street Invest, so that we could make the most of our financial security and ride out the recession in the best possible way.
