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> Breaking news > Confidence ratings for 2012 slide but over 50s look to a brighter 2013
Confidence ratings for 2012 slide but over 50s look to a brighter 2013
Responding to new data released today by Nationwide’s Consumer Confidence Index pointing to a fall in confidence among UK consumers in July, Dr. Ros Altmann, Saga’s director general, suggests many over 50s are, whilst feeling the pinch, trying to remain positive and are looking to the future...
She said: “With worries about the cost of living and retirement income coinciding with concerns over interest rates and inflation, today’s anxiety is far from short lived. However the over 50s are prepared to take a longer term view and as always are showing remarkable resilience".
"Our research shows they are helping younger offspring and grandchildren (31%) with every day spending, working longer hours (8%) and delaying retirement (13%). At the same time, many are prepared to invest on the stock market, taking the opportunity to snap up shares while the markets are low.”
“Many boomers will have experienced similar circumstances before and believe they can see light at the end of the tunnel. 55% of the UK’s over 50s expect economic prospects to be better or the same in 2013.”
Last week, UK Asset Resolution Limited (UKAR), the "bad seed" of the bank Northern Rock, anounced the payment of 2,15 billions pounds to the british department of finance after the 1,1 billion pounds in 2010.
The bank still owes 46,6 billions pounds to the Treasury after the British state bought out Northern Rock in 2008 to save it from bankrupcy.
UKAR, which also holds the account of lowns of Bradford & Bingley made a 1,09 billion profit in 2011. The (...)
Northern Rock : 2 billions for the state from the "Bad Bank"
Northern Rock Building Society was formed in 1965 as a result of the merger of two North East Building Societies; the Northern Counties Permanent Building Society (established in 1850) and the Rock Building Society (established in 1865).
During the 30 years that followed, Northern Rock expanded by acquiring 53 smaller building societies, most notably the North of England Building Society in 1994.
The bank has conducted during the 2000s a policy of loan risk: much of its (...)
