Breaking news from the BBC Paper tax returns to be replaced by digital by 2020

Read more...

Chancellor George Osborne delivers his last budget before the General Election

Read more...

Tax planning for 5 April 2015

Read more...

Extra time for tax credits renewals

Read more...

Investment or Business? 12.04.12

Read more...

HMRC issue a statement on offshore tax

Read more...

Contact Us

News Items
 
Tax Tips
 
Brilliant with numbers
Great with people
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals
 
 
Helping Your Business is Our Business

Call us now on 023 8083 6900 ABDS Home

News - 28 July 2014

UK economy back at pre-crisis level

The figures, from the Office for National Statistics (ONS), show the economy is now 0.2% ahead of its pre-crisis peak, which was reached in the first quarter of 2008.

 
Chancellor George Osborne said: "Thanks to the hard work of the British people, today we reach a major milestone in our long-term economic plan."
 
Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“The UK's service sector is the only part of the UK economy that has passed its previous 2008 peak, although that accounts for almost 80% of the entire economy. Other key sectors, including construction, industrial production and manufacturing, have yet to outstrip levels reached in 2008. The UK economy is forecast to be the fastest growing among the G7 developed nations, according to the International Monetary Fund (IMF).”
 
The pace of the recovery will feed into expectations about the timing of an interest rate rise by the Bank of England though its governor Mark Carney recently suggested it would be tied to improved data on wage growth.
 
Labour's shadow chancellor, Ed Balls, said of the latest GDP figures: "At long last our economy is back to the size it was before the global banking crisis - three years after the US reached the same point.”
 
If you need any help and advice on Budgets, Cash Flow Forecasts and Management Accounts, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar NOW to discuss how ABDS can help in all your financial planning.
 
ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900 E-mail: abds@netaccountants.net
 
Brilliant with numbers  
Great with people  
Clear and precise with advice
Timely and cost effective
In touch with issues that face our clients
Mindful of our client’s long term strategic goals
 
Helping Your Business is Our Business

« Back to News