Interest rates remained at near 50 year lows for much of 2003, yet debt collectors in the UK are currently chasing record levels of unpaid bills.
Although the majority of consumers are becoming more financially aware, a substantial minority are not. And with outstanding loans now standing at over 120% of disposable income, Ernst & Young says a real crisis is looming for the 10% of the population who hold 50% of the unsecured debt.
It is claimed a tipping point could be reached, with the potential combination of higher taxes and the higher interest rates in 2004 making futher bad debt write offs by lenders inevitable.
Just one half of UK practices have implemented a pricing structure around auto enrolment implementation and advice - with many suffering increased costs
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Accountants should alter their perspective on auto-enrolment to maximise business opportunities, according to Eric Clapton.
Kevin Reed discusses whether new accountancy group Cogital can rival the Big Four...and its likely direction of travel