CCR Magazine

CCRi banner ad
You are here  :Home arrow News arrow Budget reaction from Benson Hersch, Association of Short Term Lenders - on the OBR forecast and debt
Contact Us Newsletter Signup RSS Feeds

Latest News Headlines


Commercial Credit News


Budget reaction from Benson Hersch, Association of Short Term Lenders - on the OBR forecast and debt PDF Print E-mail
Thursday, 09 March 2017
Benson Hersch, CEO at the Association of Short Term Lenders, says “The biggest risk the UK faces is the level of both personal and government borrowing. It is this that jeopardises both the level of housing investment and our ability to withstand any shocks that the Brexit process may bring.  Only a few years ago the previous Chancellor said government borrowing would peak at what sounded like the horrendous amount of 80% of GDP; in the budget today Philip Hammond declared that will now reach 88% of GDP in the 2018/19 financial year.  Each year we spend £50billion on debt interest.   That's more than on defence or foreign aid. 

“While the modification to the rise in business rates is welcome, the level of personal debt also continues to climb. Borrowers are therefore increasingly vulnerable to the threat of interest rate rises that will inevitably come to counter the predicted rise in inflation to 2.4% this year, a level of inflation that may yet prove to be conservative following a renewed drop in the value of the pound.”
3 October - Guoman Tower Hotel, Central London 

CCRInteractive, in association with Marston Holdings , is the largest and leading one-day conference from the publishers of CCRMagazine – a truly national and international event for the credit industry.

This landmark event allows delegates to: Learn best practice of how to increase profitable sales in today’s economy. Understand the key compliance issues and how they will impact upon you. Discuss the legislative and regulatory framework and how it will effect you. Consider the potential effects of Brexit on your business. Discover the latest innovations in the market to improve your collections. Motivate your staff to achieve ever improved results.

To book to attend in 2017, contact Stephen Kiely  or Alison Lucas. To find out more about being part of this landmark event, please contact Gary Lucas

 Forums International Ltd

Forums International Ltd

 Attendance at your first meeting is free of charge, and please quote reference 'CCR2016' to receive the special 10% discount off of your first annual subscription.

Find out more here.

latest issue

CCR Cover

The latest edition of CCR Magazine, the leading editorial publication in the UK credit industry, is out.

Read the latest issue online

The Credit Excellence Awards


Tuesday 3 October - Guoman Tower Hotel, Central London

Do not miss your chance to meet and network with the Winners and Finalists at the Credit Excellence Awards, in association with Hoist Finance.

To book your place to attend, please contact Alison Lucas.


CCR is the premier magazine for consumer and credit professionals. It provides an independent voice to the industry, breaking major news stories and running in-depth features.

As a magazine, it works with and campaigns on behalf of the credit industry to promote its importance as a centre of potential profit and business development to the wider business world.

Subscribe to CCR Magazine

CCR World Magazine


Providing information and analysis for thousands of senior credit professionals worldwide, every quarter.

Find out more

GTS Media Ltd
81 Cambridge Road

Registered in England No: 05483197