A recovery in share and house prices has stemmed the wealth loss per UK
household from £40,000 to £36,000 per adult.
The total loss from the credit crunch is set to reduce from £1.9 trillion in
March to £1.7 trillion in May, according to analysis from PricewaterhouseCoopers
reported in Consultant News.
Losses suffered by households in the credit crunch are still dramatic –
wealth is down by as much as 25 per cent since the peak in July 2007. A total of
120 per cent of GDP has been lost from household wealth since that date.
Average UK house prices are down by around 20% from their peak, wiping an
estimated £800bn off valuations in aggregate. The sharemarket has fallen just
over 30% since their peak in mid-2007, wiping £900bn off the value of equity
Does Darwin's theory apply to taxation? Colin ponders...
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
Accountancy watchdog the FRC has dropped its investigation into the former chief financial officer of Tesco, nearly two years after the supermarket was engulfed in an accounting scandal
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements