Important News - Todays Date is 22 February 2012

The Olympics may help the UK over the “debt recovery” hurdle

Whilst the Government’s attempts to reduce the deficit have been thwarted by very slow economic growth and with no more public funding available, it is now in the hands of the private sector to try and stimulate growth. With business investment growth forecast at 7.7% for 2012 despite falling 0.8% last year, this may appear to be a very optimistic and challenging outlook for the UK’s debt recovery strategy and the private sector.

During 2012 there will be potential “feel good” factors helping improve economic optimism, the Queen’s Diamond Jubilee and the London Olympics are both thought to help with increasing personal and domestic spending. The economy will also be boosted by 0.1% later this year, when the Olympic ticket sales are finally registered. Although the Olympic Games infrastructure project has seen over £9b of public funds spent so far, the vital involvement of construction companies who would have otherwise struggled for contracts during these difficult times has kept thousands of people in employment. The Olympic Games and the Paralympic Games should attract thousands of visitors to the UK and boost the economy by £750m. Starting the year with optimism and positivity, instead of gloom and doom, should certainly help support the economic and debt recovery in the UK during 2012.