British economy ‘under immense pressure’

9 October 2008

The UK is already in a worsening recession, according to the British Chambers of Commerce (BCC).

Following ‘worrying’ results in the second quarter of 2008, the BCC’s Quarterly Economic Survey reports ‘exceptionally bad’ results for Q3.

‘The domestic economy is under immense pressure for the second quarter in a row,” the BCC website states, ‘with the survey results showing that the UK is now in a worsening recession.’ “It’s clear the UK has difficult times ahead,” said a spokesperson for debt management company Gregory Pennington.

“Individuals may be unable to influence the national economy, but they can take steps to improve their own finances.

“For people in debt, their first priority should be to clear those debts as soon as realistically possible. Some may wish to consider a debt management plan or other debt solution; others may merely wish to seek debt advice from a professional debt expert.”

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Gregory Pennington offer debt management plans as well as a range of other debt solutions. If you are worried about debt, contact one of our expert debt advisers now.

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Gregory Pennington are founder members of DEMSA (Debt Managers Standards Association).

DEMSA are the first trade body within the finance industry to successfully secure approval for its code of practice under the OFT Consumer Codes Approval Scheme (CCAS).