Mortgages and loans will be harder to arrange, while the pension funds of those close to retirement may well be hit by fluctuations in the stock market.

Many businesses are being caught out by the credit crunch as banks call in their loans.

These are worrying times for all of us and south Norfolk is not immune from this financial turbulence.

I know of several businesses in my constituency which have gone under and Diss is losing some of its best-known local shops, either to closure or relocation. I fear they will not be the last.

The years of easy credit are over and we will all need to tighten our belts in order to make it through the lean times ahead.

Engineering for schools

However, I was delighted to discover how one south Norfolk business is using its success to invest in the engineers of the future. 

Hethel Engineering Centre is opening its doors to high schools across Norfolk, offering itself as a resource to design and technology teachers.

The centre runs "experience days" as part of its Pathways To Engineering programme. This aims to increase awareness of the exciting opportunities in manufacturing and engineering. 

Six high schools have already taken part and the centre's director, Simon Coward, is very enthusiastic about getting more schools involved. 

The centre has a wonderful array of cutting-edge technology. School students can use this equipment under the supervision of Engineering Manager Derek Hillyard, who showed me how it can be used to inspire budding young engineers. I am glad the future of British engineering is in such good hands.

Moneyfacts

Although Diss is more than 20 miles from Norwich, few can deny the importance of our county town. 

More than 50,000 people commute into Norwich from the rest of Norfolk, and around a third of these commuters come from south Norfolk. This daily influx makes Norwich the most commuted-to city after London. 

I was invited to discuss just how important south Norfolk is to Norwich and vice versa by Moneyfacts, part of Norwich's growing financial sector. 

Moneyfacts' mission is to give clear, accurate and independent financial information to journalists, brokers and the financial industry. 

I met with Moneyfacts staff who live in my constituency. Chairman John Woods and his expert team explained to me how they have built the company into the national market-leader in its sector. It's a great success story for Norwich and for South Norfolk.