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Uk richest hit by recession

Till today people from all over the world has been hit very bad on the living thanks to the Recession last year.This dreadful period still continues leaving every company on its verge of dismissal from the markets.

No company has standed to this recession except gaming industry which continues to earn millions. And now the nightmare of recession has hit the richest members of UK causing them huge loss to their money.

According to the Sunday Times Rich List, Uk richest members were hit much harder during the economic downfall last year.

The UK top 1000 rich people has a sum of £258bn among themselves which is nearly 45% down then the last year’s £413bn. And to add to this, the number of billionairs of the country has been fallen from 75 to 43.

Indian steel tycoon Lakshmi Mittal, and family, are top again with £10.8bn, down a huge 61% from 2008.The critics and top business people reckons that this is the worst decrease in UK’s history of 30 years.

It is said that none are resistant to this recession and every one are immune to this. But analystics predict that the worst phase of the recession was on the october to december period of 2008 and the markets is better at January to March period of 2009.

If this is true, then it indicates the recovery. But the recovery cannot be seen as an improvement for nine months period of time. It is predicted to be a slow recovery.

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