Living standards squeeze to cost UK households £1,050, think tanks warn
The pressure falls hardest on people who are already struggling Economists have warned that typical working households in the UK face a £1,050 income hit by 2029 despite Budget support. This comes as living standards are barely rising. According to the Resolution Foundation, typical working-age households are on course to lose £1,050 in disposable income […]
1 week ago
Gas standing charges scrapped for 23 million UK homes in Budget
Here’s what it means for UK households Millions of UK households will save up to £45 a year on their bills, as Chancellor John Healey will abolish gas standing charges from 2027 in his first Budget. After the change takes effect, around 23 million homes will stop paying the fixed daily fee on their gas […]
1 week ago
Minimum wage rise for under-21s set to slow in this week’s Budget
Smaller increases than in previous years As the Chancellor prepares Wednesday’s Budget, minimum wage increases for 18 to 20-year-olds will be smaller than in previous years, it has been revealed. As the BBC reports, workers aged 18 to 20 face a smaller pay rise than in the past two years. According to the Times, the […]
1 week ago
UK inflation rate hits 3.5% as fuel prices surge
The steepest climb in close to a year As fuel costs piled pressure on households ahead of the Budget, the UK inflation rate jumped to 3.5% in September. The headline rate climbed to 3.5% last month, up from 3.1% in August, the Office for National Statistics confirmed on Wednesday. That marks the sharpest annual rise […]
2 weeks ago
UK growth forecast upgraded by IMF, but 2027 slowdown looms
Energy bills and council tax increases add to household cost pressures The International Monetary Fund (IMF) expects the UK economy to expand by 1.3% in 2026, revising its earlier prediction upwards. However, it anticipates a tougher year ahead, with expensive energy and higher interest rates likely to slow growth in 2027. The global economy has […]
3 weeks ago
The Conservatives want Burnham to rule out tax rises before the Budget
Conservatives warn businesses are already under pressure ahead of Budget There are still six weeks to go until the government’s Budget, but John Healey is already facing competing demands over what should happen to taxes and public spending. The Conservatives have called on the chancellor to remove any uncertainty by ruling out further tax rises. […]
1 month ago