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Hopes shine bright despite recession

PUBLISHED: 10:53 27 December 2008 | UPDATED: 12:48 09 March 2010

DESPITE fears that the recession is tightening its grip on the British economy, there were real hopes today that Ipswich and east Suffolk should be able to escape the worst.

DESPITE fears that the recession is tightening its grip on the British economy, there were real hopes today that Ipswich and east Suffolk should be able to escape the worst.

The developer behind the massive SnOasis project at Blakenham insisted today that it was all systems go despite his main financial backer, First Equity, seeking court protection from its creditors in its Irish base while it reschedules its cash flow.

Godfrey Spanner said the division of First Equity providing finance to SnOasis should be unaffected by the appointment of an examiner by the High Court in Dublin.

Meanwhile in Ipswich the outlook for 2009 is hopeful as work continues on major new educational investment in the town - and new shops should also start to take shape during the year.

The news comes as shoppers flocked to the high streets to search out post-Christmas bargains.


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