Page 5 - Pillar 3 Disclosure
P. 5


The Office for Budget Responsibility predicts that I am uncertain that this is sustainable and also 

growth for 2013 will be 1.4% increasing to 2.4% fear that an increase in interest rates (which many 
for 2014. Whilst these positive growth predictions expect to now be ahead of the predicted 2016 

are welcomed, we must take them with some date from the Bank of England) could not only be 

caution; we have never seen an economy grow devastating to individual households but also to 

whilst youth unemployment is increasing and the health of the wider economy.

exports and business investment is flat. All of this 

indicates that our economic growth is fuelled by 
consumer spending; consumers who are already 

heavily indebted, and more recently, many who 

are relying upon Help to Buy.

A glance at the economy

Housing Market

Bank of England ONS Inflation Tracker • Over 25s reduced by 

Mortgage Approvals:
November 2013:
0.2% to 5.6%

• Highest level since Feb 2008
• CPI 2.1%
• Under 25s increased by 
0.5% to 21%
Land Registry house price • RPI 2.6%

increases in 2013:
• Under 25s unemployment in 
• Still remains over the Bank 
• East of England 3.2%
East of England is 18.4%
• Suffolk 2.6%
of England target of 2%

• London 8.7%


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