Thousands of Over 50s thinking of leaving Britain to escape recession

Mon, 24 Nov 2008

With the UK in the grip of a recession, over 400,000 Brits over 50 are planning to leave Britain in search of financial security, according to insurance provider RIAS .

The research from RIAS revealed that even though the Government is taking action to limit the damage done by the recession, including the interest rate cut of 1.5 per cent, Brits over 50 continue to worry about their finances .

As the British economy contracts and unemployment is expected to rise by 25 per cent, the firm found that one in ten Brits over 50 are 'seriously' considering leaving the UK, on top of the 400,000 who have already planned to leave.

Commenting, managing director at RIAS, Janet Connor said: "It can be difficult for people who have worked hard all their lives to face a financially restricted retirement here in the UK." Also, RIAS say that although the recession is global, the European Commission forecasts that Britain will be harder hit than any other leading European country.
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