It has been revealed today that the average employee take home has decreased by 5% since the beginning of the recession, the research has been complied and there is also a TV programme from panorama this evening. Wages have been recorded that they are now as low as 2004, and one of the main reasons behind this is that the companies are unable to give pay rises due to inflation and profits being very low.

Is the worst of the recession over?

There are a variety of articles being released commenting that the worst of the recession could be over, but the latest figures show the number of shops, retail outlets, public houses, etc, etc, closing is increasing, the number of people being made redundant is increasing and also the number of people trying to stop repossession is increasing. So is the worst of the recession actually over?

Doorstep lenders overcharge whilst people try to stop repossession

It was revealed today that there are some doorstep lenders charging in excess of 500% apr on loans. Lender’s like Provident Financial, who is probably the largest doorstep lender, commented by saying it is “a fair and transparent lender”.

Barnardo’s, the children’s charity, have called for these doorstep lenders to be regulated in the hope that the extortionate interest rates can be a thing of the past.