Many Brits are bracing themselves for a recession, a new survey has suggested.
The research, conducted by Close Investments, has found that 52 per cent of people are worried that a recession is on its way, while 53 per cent stated that they are concerned about the credit crunch.
Londoners and those in the south-east were revealed to be the most worried about a possible recession.
Interestingly, the housing market came seventh in the list of concerns, which was unusual for a nation who prides itself on its homes, the organisation noted.
“Clearly people are worried about what the future holds for themselves and their families. No one likes to plan for the worst, but it is sensible to do so,” remarked spokesperson Hannah Parkinson.
Meanwhile, government action on rescuing banks and providing liquidity may have come too late to save us from a serious economic slowdown, according to Ben Read, from the Centre for Economics and Business Research.
By Jamie Price