The condition of the economy of Britain is serious. Steps were being taken to reconstruct the economy along with driving out the output, but it has all the more got into the trouble of recession than what was being thought that it is going to go in the first three months of the year 2012. now there are even more chances that the Bank Of England will have to put in more money into the economy so that its condition can get any better. Even more bigger amount is also required so that the economy of the country can be saved from the increasing ill effect of the euro zone crisis.
After a recession that came in the years 2007-08, this is the second time that the country is in for financial trouble. Its chances of getting recovered from it are also clouded because the other leaders who are a part of euro zone crisis who are considered as big major trading partner of Britain have not been able to make any kind of a progress in finding a solution of their own debt-related woes.
The Monetary Policy Committed that is MPC of Bank of England has pointed out that they are ready to put in more more into the economy of the country to get it back on right track after they have put a full stop on quantitative easing programme of asset-buying on the figure of 325 billion pounds in the present month as well as being worried that a break-up can come in the currency union.
Philip Shaw, economist at Investe was of the view that the economy of the country is not on a track of recovery along with the whole scene of Europe being on a down-cast, there are chances that MPC is going to give in more in more on quantitative easing at any stage in the year to come.
Between the months of January as well as March, the economy of Britain has shrunk by 0.3 per cent. This is what the statistics by the Office for National Statistics point out. From the past year till now, the Gross Domestic Product that is GDP has also down down by 0.1 per cent. This downfall has been the first one after the year 2009.
The figures might prove to uncomfortable for George Osborne, Finance Minister, Britain as he has taken a hard decision of following austerity measure and taking the economy of Britain by cutting down on debts. Apply with loans by text @ http://www.loansbytext.org.uk/ and get immediate cash aids