Britain’s weak economy not recoverable

Press TV
The British Chambers of Commerce has warned that the United Kingdom’s economy is unable to produce a stable recovery, as it is too weak, local media reported.

A survey by trade group Business Community Confindustria (BCC) showed, businesses’ confidence was still lower than before the crisis in 2007, as plans to invest in plant and machinery by manufacturers fell.

It has become increasingly difficult for the UK government and the central bank to get credit flowing through the economy, as uncertainties over the euro zone remain.

The UK government and Bank of England are facing increasing stress calls for attempts to start on building economic growth during the double-dip recession

The British government is being urged by Trade Group BCC to stimulate the battered economy and help businesses pick up, but the problem stands as the British banks constantly refuse to lend or boost customer credit. 

The overall environment for credit to the consumers stays weak, while the economy suffers with tight credit conditions.

“It’s just more of the same. Why would anyone expect anything else, the household sector is up to its eyeballs in debt, it’s trying to de-leverage and this process is going to run for several more years”, said Ross Walker at ‘Royal Bank of Scotland’ (RBS).