openPR Logo
Press release

Forbes Solicitors Preston plan for future economic development in Lancashire

01-19-2010 12:26 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: forbes solicitors

Lancashire law firm Forbes Solicitors which has nine local offices including Preston and Blackburn is warning that although the economy is taking a step in the right direction, any recovery in 2010 is likely to be very limited.

As 2009 draws to a close, most Lancashire businesses are feeling that their profit margins are under pressure. Official figures for 2009 show that in the period to the end of the third quarter, the UK economy had shrunk for six consecutive quarters. Economists seem to think that 2010 will be a year of economic recovery but that that recovery will be very limited with growth forecasts of about 1%. Added to these rather gloomy forecasts will be an increasing tax burden for both individuals and businesses as of January 1st when the VAT rate increases to 17.5%.

As far as house prices are concerned, many commentators predict that these will be flat in 2010 and some forecast further falls. Much will depend on the attitude of banks and building societies to lending and whether borrowing to buy houses is made any easier. Homeowners have however already been warned that mortgage rates are likely to increase in the next twelve months. It is predicted that in 2010 net lending which is the amount of extra money provided for home loans on top of repayments collected by lenders will increase from £8 billion to about £15 billion. The Council for Mortgage Lenders also predicts a rise in the number of housing market transactions from 810,000 in 2009 to 850,000 this year. To put this in context in 2007 there were 1.6 million transactions. It seems unlikely therefore that 2010 will see a return of the residential property boom.

John Barker, Managing Partner of Forbes Blackburn office states that, “It is against this economic background for the UK as a whole that we need to consider the prospects for Lancashire”.

He comments further, “In a year when growth in the country is expected to be limited, the Lancashire economy will face severe challenges. The Local Authorities in Pennine Lancashire and the North West Development Agency have agreed in principle funding for the future economic development of the area. The priorities which they identify are aerospace/advance manufacturing, skills/higher education, digital and physical connectivity and housing. Attracting such funds to the area will be vital if the area is to move forward in 2010 and beyond”.

Forbes Solicitors Preston also has expert lawyers based at offices in Blackburn, Chorley, Accrington, Manchester and Leeds. They offer advice in all areas of the law, acting for both businesses and on individual private matters. They have also been awarded Corporate Law Firm of the Year for the past two years at the Insider Lancashire Dealmakers Awards.

Telephone: 0800 037 4628
Address: Rutherford House
4 Wellington Street (St Johns)
Blackburn, Lancashire, BB1 8DD

Rutherford House
4 Wellington Street

This release was published on openPR.

Permanent link to this press release:

Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Forbes Solicitors Preston plan for future economic development in Lancashire here

News-ID: 117119 • Views: 1024

More Releases for Lancashire

UK’s most advanced LED lighting technology sets Lancashire-grown tomato produc …
British premium tomato growers Flavourfresh are no strangers to pioneering in the world of fresh produce. Leading the way with the introduction of Delisher baby plum vine tomatoes since 2012 and supplying premier brand supermarkets with headline tomato varieties including the exquisite cherry on the vine Piccolo, the company are now setting their production programmes alight with the most advanced LED lighting technology. British-grown tomatoes, all year round Optimising flavours and
Soda Crystals Market 2017- East Lancashire Chemical Co. Ltd, Solvay, Tata Chemic …
Apex Research, recently published a detailed market research study focused on the "Soda Crystals Market" across the global, regional and country level. The report provides 360° analysis of "Soda Crystals Market" from view of manufacturers, regions, product types and end industries. The research report analyses and provides the historical data along with current performance of the global Soda Crystals industry, and estimates the future trend of Soda Crystals market
Virtek Vision Announces MOU with University of Central Lancashire
WATERLOO, Canada (September 18, 2013) – Virtek Vision International, a leading supplier of laser-based manufacturing technology, announced today the signing of a Memorandum of Understanding with The University of Central Lancashire (UCLan), a world class institution in the United Kingdom. This agreement will pave the way for the two organizations to collaborate on projects related to the development of skills, methods and technologies used in real-world manufacturing applications. The agreement was
Lancashire Fire and Rescue Service Become the Latest to Select Aligned Assets
Woking, Surrey 20th April 2012 – Lancashire Fire and Rescue Service has become the latest emergency service to select Symphony Bluelight from Aligned Assets as their corporate gazetteer management system. As a suite of software solutions designed specifically for use in the emergency services, Symphony Bluelight will give Lancashire Fire and Rescue Service complete management of their address data and allow them to streamline services by linking the diverse systems that
Lancashire web design and SEO agency supports launch of Britain’s first ever f …
Blackburn web design and marketing agency, dpi21 is pioneering the online marketing strategy of Britain’s first University of Football. From September, Burnley FC, one of the founder members of the Football League in 1888, will be home to Britain’s newest university – dedicated entirely to the study of football business. The University of Football Business (UCFB) will be restricted to matters concerning the operational and business side of the industry rather than
Multicare Stairlifts expands further into Lancashire
Multicare Stairlifts has expanded its service further into the Blackburn area. The company, which supplies a selection of stairlifts, vertical lifts and mobility products, now operates throughout the whole of the Lancashire region. Not only will Multicare deliver stairlifts to anywhere in the area, but its busy service department handles all services and repair. This extends to most leading makes of stairlifts, scooters and other mobility equipment. Friendly engineers will carry out stairlift