The head economist from Lloyds TSB has commented on the unchanged base rate announced today, explaining that it was the need to keep a lid on inflation that led to the decision.
Although there is still a real threat of further economic slowdown the Bank of England could not afford to cut the base rate again since the underlying rate of inflation is higher than it should be. As the Lloyds TSB pointed out, a further base rate cut could fuel more rises in inflation, completely the opposite of what is needed.
He went on to say that, as far as Lloyds TSB can see there will need to be more indications that the economy really is in a slowdown mode before base rates can be considered for reduction again.
Excluding London it has been found that Milton Keynes is the most expensive place to operate a small business, this according to the Alliance and Leicester Business Banking unit.
It has found that the property rental costs, the price of labour and also transportation are higher here, meaning small businesses have to deal with higher operating costs before they can begin to make any profit. The Alliance and Leicester found Milton Keynes to be the most expensive place to rent retail space and also the eighth best place for wages.
One of the good things about this Alliance and Leicester survey is that high business costs are also associated with businesses doing well. Therefore there are opportunities for new businesses to succeed in Milton Keynes.
According to a recent Alliance and Leicester survey of 16 to 21 year olds in the UK, the ideal occupation would be a professional, and very famous, musician.
Over a thousand young people were surveyed to gain a better understanding of this valuable market segment, since the Alliance and Leicester current account is perfectly suited to the needs of young people. It seems that the youth of today aspire to be famous, seeing wealth come as part of the package.
As said, musician tops the list, followed by a role in the media, a socialite – which means no career at all most people over 21 would argue – and then fashion designer. As a top 4 it bears little resemblance to what is likely to be the reality for 99.9 percent of them, but it is always good to dream and maybe the Alliance and Leicester can help them manage their money so they can feel like they are rich.
