- Monday, 14 September 2009UK citizens could continue to find themselves in need of entering into
individual voluntary agreements (IVAs) even when the economy enters growth.
It has recently been suggested that despite the fact that the UK economy appears to be recovering, it is advancing with its "foot lightly on the brake rather than stamping hard on the accelerator".
Alan Clarke, economist at BNP Paribas, said: "We are probably going to top out around the middle of 2010, particularly once the new government starts to raise taxes and cut government spending.
"That is going to ensure that growth never really gets that far above zero."
As a result, people could continue to struggle financially despite an end to the recession and a return to growth.
The British Chambers of Commerce recently published its economic forecast, suggesting that Britain will see GDP fall by 4.3 per cent this year, followed by yearly rises of 1.1 per cent and 1.9 per cent in the following two years.
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