Lately, on the news, I've heard of many of the UK's financial struggles and how its problems are aggravating each day - especially the north of England. The rest of the United Kingdom are gradually developing though if the north's issues become worse, it can affect all of the others.
The difficulties can spread if:
- They ask for loans from other cities and regions or wrse the Bank of England
- Northerners bribe us into paying all of their dues whilstwe lose money unconsciously
- Their councils ask the rest of the UK to take risks and raise money for them
Could we face a crisis again?
Many say thet we could face recession in 2020. However, the NABE panel, National Association for Business Economic, salso stated that the growth could be cut short by an upcoming recession, with two thirds of the economists predicting that a recession will start by the end of 2020 and 18% believing that a decline could begin as soon as the end of 2019.
3 Ways To Prepare For A Financial Crisis
1 - Look for ways to earn extra cash so you can always pay back loans + the extra
2 - Closely manage your bills - if you can't afford to pay loans do not risk it
3 - Encourage the Government to create strict banking rules
So, we all know that our country needs help - in fact, the whole world needs it. But we can stop it. In the comments, write your opinions on what you think of the economy.