- Wednesday, 28 October 2009The number of people entering into
individual voluntary agreements (IVAs) could increase unless the Bank of England (BoE) and the government adjust their recession-beating fiscal policies upwards.
According to the Institute for Public Policy Research (IPPR), without increased help from both parties the UK will fail to escape from the recession.
The inability to do so could significantly impact upon the individual finances of the British public and cause a larger number of people to adopt bankruptcy-avoiding measures such as IVAs.
Mr Dolphin, senior economist at the IPPR, said that the widespread lack of credit was a particular problem that is directly linked to the effects of the economic downturn.
He commented: "The evidence from surveys is that [the financial sector] is still not making credit available to the economy in a quantity that would be regarded as normal because it is using its funds to pay off past losses."
Monetary Policy Committee member Adam Posen recently suggested that the UK's financial sector may struggle to support a sustained recovery.
Recent IVA News23% of first-time buyers save for five years to raise a depositWed, 04 May 2011
Brits dealing with Finance Management should shop around for car insurance Wed, 04 May 2011
Parents, including those with Finance Management, advised to start saving for children's weddingsTue, 03 May 2011
Newlyweds may be in need of Finance Management plans after overspending on weddingTue, 03 May 2011
Renting rather than buying may be an option for Brits with Finance Management Thu, 28 Apr 2011
Consumers coping with Finance Management may want to shop around for cheap energy tariffsWed, 27 Apr 2011
Increasing number of Brits turning to loans for home improvementsWed, 27 Apr 2011
Brits, including those with Finance Management plans, to spend £267 on Royal Wedding Tue, 26 Apr 2011
Equity release can be used to 'become debt-free'Tue, 26 Apr 2011
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