F&I Management & Training

'The Government's reliance on interest rate reductions to stimulate the economy should be part of a wider package of measures, and we urge that more direct approaches are used as soon as possible,' said Sue Robinson, Director of the Retail Motor Industry Federation (RMIF), representing 8,000 businesses in the UK's retail motor sector, commenting on the announcement today (Thursday 8 January 2009). The UK interest rate has been reduced to 1.5 per cent from 2 per cent. Robinson continues: 'Although interest rate reductions will help borrowers, it will conversely penalize savers, and those people reliant on interest for their disposable income. Unless counterbalanced with tax cuts and business support measures, further interest rate reductions could have a negligible effect on the economy.'

DATED: 09.01.09

FEED: AW