Economy may not recover until 2010

6 January 2009

Prime Minister Gordon Brown has admitted that the economic downturn may last longer than expected, following worse-than-expected lending and retail figures for the end of 2008.

The Treasury had previously predicted that the economy would begin to recover in the second half of 2009, but recent developments have forced Gordon Brown to admit that the recovery may not start so soon.

“The loans market is an important part of the economy,” said a loans expert for Think Money, “but there’s no doubt that the availability of loans has decreased.” According to Chancellor Alistair Darling, “…over the next few weeks we will continue to discuss with banks what further steps we can take that would help lending, particularly to small and medium-sized businesses.”

The loans expert from Think Money concluded: “We advise anyone looking for a loan to seek advice from a professional loans adviser to improve their chances of finding the best deal.”

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