Next crash just four years away, Brits predict

Ryan Bembridge

October 15, 2018

The UK is anticipating another financial crash within the next four years, MoneySuperMarket research has revealed.

10 years on from the global financial crash of 2008 another is expected by May 2022.

Sally Francis-Miles, money spokesperson at MoneySuperMarket, said: “Many people will remember or were even directly affected by the financial crash of 2008.

“On the 10th anniversary of one of the most significant events of the crash, it’s important to reflect on the lessons learned to ensure they are applied if another crash and subsequent recession hits.

“While Brits are clearly more conscious and even sceptical of the way banks manage their money, our new report suggests that 10 per cent of the nation don’t even know what the banks do with their hard-earned cash.

“However, the important thing to remember is that money saved with a financial institution covered by the Financial Services Compensation Scheme is protected up to £85,000. If you have more than that, it’s wise to spread it across different accounts so all your savings are protected.

“British financial institutions must continue in their efforts to ensure the public that they are doing their part in preventing another crash.”

Due to the 2008 crash over one-fifth (21%) of British adults are now more likely to avoid putting all their income into a bank account, with this rising to two in five (41%) among Londoners.

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