CONSUMER CREDIT REDUCED

NOTHING BUT LIES!!!

Consumer credit will not be that easily available over the next three months. This will add a further burden on households and eventually reduce buying and economy.

Bank’s latest credit conditions survey’s report showed a double-digit growth of personal loans and credit card debt during the past year.

Bank of England Governor Mark Carney wants banks to put aside more funds to support lending in the event of a slowdown during rising inflation.

The survey also points out that banks are expecting to tighten credit scoring criteria during the following quarter.

The survey also showed an increasing demand for loans from small and medium-sized business which had not been the case during the last year.

Larger companies are avoiding further loans.

Is it all a sign of the ship going down despite of all the Government’s cut-backs and promises it is all for the sake of reducing the deficit?

Well one thing for sure the deficit has not reduced; the opposite has happened and shows an increase of horrendous proportion and is now at the highest level for 67 years. The National Debt is £1.8trillion.

However, the Government or PM May will not change course and add another £12bn Welfare cuts on top of already poor -, disabled - and even working people having to rely on food banks.

The state of this country and its people is incredible being the 6^th richest in the world being turned back to Victorian time with no social welfare and NHS which is sold out to USA.

Evening Standard @russ_lynch

BANK OF ENGLAND RELEASED £150BN TO UK BANKS

The Bank of England gave £150billion to the UK banks to ensure the credit keeps flowing.

The decision was made after two meeting of the Bank's financial policy committee.

Their capital was reduced by £5.7billion which raised their lending capacity for households and businesses £150billion.

The Banks were warned not to use the money for increased bonuses or dividends for shareholders.
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The decision was made on a thread of recession after worst performance of the UK's dominant

services sector for over three years during three months before the referendum.

The Bank promised more help next week.

The pound hit another low exchange rate with the US dollars and FPC's growing fears over funding the UK's deficits with overseas investors.

Governor Mark Carney announced the need to cut rates and introduce further stimulus next summer to counteract the shock of Brexit.

In June, slow down showed in taking on staff such as from hairdresser to  IT, and accountants  before the referendum vote.