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03/03/2009
UK economy faces 'severe' lack of investment |
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The shortage of business investment in the UK is particularly acute at present and could be a reason for the UK suffering a "significant and deep recession", the centre for economics and business research (CEBR) has said.
Senior economist at the CEBR Charles Davis commented that the organisation was concerned about the effects of a lack of investment directly resulting from the lack of finance in the credit crunch.
He stated: "If you look across a wide range of business survey data, you will see that investment intentions for the year ahead are coming right back [to lower levels]."
Such lack of investment could see some companies continuing to cut back and making more redundancies.
Data from the Office for National Statistics revealed recently that investment was down by 3.9 per cent in the final quarter of 2008 from the previous three-month period.
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