Brits seem unperturbed about credit crisis

A recent report has suggested that many Brits seem to be unperturbed about the continuing global credit crunch, which has resulted in increased strain on family finances and has resulted in far tighter credit conditions. Research shows that over one third of Brits do not think that the global credit crunch will significantly affect them.

The research was carried out by insurance giant Zurich, and indicated that around 36% of Brits did not feel that the credit crunch would adversely affect them. This comes despite soaring living costs, increased difficulties in getting credit, and a number of bleak reports that show the economy is slowing down.

Around 43% of consumers involved in the research said that they would not cut back on their spending levels, although some indicated that they would cut back on savings and investments.

The date from the research backs another recent poll where 33% of consumers said that they did not expect the credit crunch to have much of an effect on their lifestyle.

In the meantime, energy, food, and petrol prices continue to soar, and the level of inflation has rocketed to 3.3%, which is way over the government’s target of 2%.