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My husband’s brother, who lives in Australia, is back in the UK for the Christmas holidays.

As there was hardly anything on television and the demise of Mortgage Times had kept me late at FT Towers, he had hit the high street to do a bit of shopping.

As he had not been back to these shores since autumn 2008, he was curious about why was Abbey becoming Santander, were all old Woolworths stores now pound shops, had Barclays – who he still has an account with – had to call on the government for a handout, etc.

Trying to sum up the state of the UK’s banks in 2009, made me reflect on Christmas 2008 – by heck, it was gloomy.

A friend who teaches in Singapore called me up last Boxing Day and suggested hitting the shops to forget the horrible year for financial services I had produced hundreds of stories on.

As every day last December another high street store seemed to have to shut up shop, I pointed out seeing sobbing Woolworths and Zavvi staff was hardly likely to fill me with festive cheer.

Unquestionably though 2009 has also been a tough year. Network Data and Mortgage Times are a couple of the names that spring to mind.

Having survived the horror of 2008 happy times failed to come quickly enough in 2009.

But, as we stand on the edge of 2009, I think those who have survived deserve a pat on the back.

2010 will not be easy – a general election, the possibility of a new regulator if the Conservatives get into power, meeting the Retail Distribution Review requirements, the end of the stamp duty holiday and having to handle clients who still feel less than overjoyed about the future are all real challenges you face.

However, what hasn’t killed you has hopefully made you stronger.

Yes, the world of 2010 will be very different from that of 2000. Foreign ownership (you know who you are Abbey) is something to shout about and the fact you haven’t gone cap in hand to the government is worn as a badge of honour (yes, I am talking about you Barclays).

But the needs of consumers, who still want reassurance and for someone to help them ensure they are able to afford to achieve their goals, remain pretty much the same.

Therefore, I look forward to speaking to you all again in 2010. Have a Happy New Year.

It occurred to me that surviving this “blip” in the economy was simple several years ago, particularly as I feel we have been in this “limbo” since 2000. Cut back on spending eg: stay in one extra night out a week, cost £50, saving £216 per month. Make clothes last longer and shop in the “Pound” shop, “Lidl” and “Netto”. Ok, we shouldn’t have to do it but it can be done. The savings on “Stamp Duty” have hardly had any effect because few are in the market to buy and even less can afford to buy. Similarly with “VAT”, as you would have to spend £12000 excluding VAT to save circa £300, only a few feel the benefit and one must assume they can afford more than the majority anyway. House/Property prices have fallen because of lack of demand, once this returns they will rise thus the value of investments in such will recover and only those who had to sell will have lost.
Meanwhile life has to go on and circa 90% of activity continues. Those who cut their cloth and didn’t spend the “Cream” on essentials when it was available, will survive. Those who were desperate several years ago have either disappeared or are still desperate and more in debt.
The majority of our banking system has our money but is keeping it, perhaps with a more sensible approach to affordable lending which cannot be wrong although ticking boxes has never been a fair as meeting the client face to face and analysing their future and their demeanour together.
Bring back the local, capable “Bank/Loans Manager” and let him do his job!!
Finally, the “Assets are not lost they are merely temporarily de-valued and were perhaps initially over valued so what does “£1.5 Trillion” really mean in terms of our future?
Do 66 million Brits owe circa £225,000 each or are there some Assets?
Everyone in this country needs to adopt a Positive Mental Attitude, those who “Scrounge” should be brought to task and the waste needs to be identified and saved.
Simple, but the greedy may not relent therefore they must be brought to account, either that or give me the C.E.O’s job at the Northern Rock before it becomes “Australian” as the income would come in handy AND I do have a Banking background but would rather rely on my “University of Life” education!!!
Perhaps it will be a Happy New Year for most!!