Gordon Brown has admitted that the downturn in the world economy is likely to send the UK into recession. Adding that the crisis in the global financial markets would cause “recession in America, France, Italy, Germany, Japan and - because no country can insulate itself from it - Britain too”. (more…)

The UK taxation rates and policy on worldwide earnings has lead to the decision by Shire Pharmaceuticals to move its tax base from the UK to Dublin, Ireland. The difference in rates is such that it makes relocating away from the UK a significant advantage. Tax on global profits if based in the UK is 28%, compared to only 12.5% in Ireland. With benefits like these, it is only a matter of time before other big players follow suit.

!65,000% is the staggering annual inflation rate experienced in Zimbabwe.  This is up from around 100,000 as of January 2008. Cash is becoming worthless with prices increasing in the time it takes to get to the shops. That is providing they can afford to purchase anything, or indeed there is anything to purchase. (more…)

Lehman Brothers has issued a report that states the UK faces a one in three chance of going in to recession during the next two years. Global financial issues caused by the credit crunch, higher mortgage rates and reduced availablility of mortgage deals will finally lead to a slowdown in consumer spending. Adding up all these factors means the prospect of a recession won’t go away. (more…)