Interest rates set to remain at an all time low

Our financial advisory team at Belsize have indicated that interest rates are set to remain at 0.5 per cent to the end of the year. The growing recession and economic uncertainty in both Europe and the US make it unlikely that the Bank of England will raise rates over the coming months. It is hoped that the London Olympics will stimulate growth in the UK towards the latter part of 2012.

New Website Announced

Belsize Accountancy launched its Website in September 2011. Company Director, Costas Georgiou announced the release and has invited clients to provide their feedback for the Testimonials.

Growing Fears of a Double Dip Recession

Fears of a double dip recession grew in light of a recent drop in manufacturing output in the UK. The volume of new orders fell for the fourth month running in August. The dip in new business is the result of weak demand in the UK combined with rising global economic uncertainty and a reduction in the exports.

 It is surprising that concerns over a double dip recession have only recently come to light in the press. This risk was immediately obvious to most people in the business world given the decision to increase VAT to 20% in January 2011 combined with the recent increase in income taxes and National Insurance. The reduction in disposable income combined with large cuts in government spending have not been matched by growth in the private sector.