Country headed for double dip recession as banks limit lending for five years

Arrow going down

The gloomy news was delivered to approximately 500 Broker Network and Countrywide members by economist Professor Roger Martin-Fagg.

He explained that although the Government will claim that growth next year will scrape to 1%, the reality of the situation is that inflation would average out at 4% whereas growth will only be 3%. Therefore, he predicted, real GDP would shrink by 1%.

Turning to bank lending, Professor Martin-Fagg had more bad news. He estimated that we are a third of the way through

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected].

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have an Insurance Age account, please register now.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: