UK stocks fell on Thursday after Labour minister Stephen Kinnock conceded that the British economy is in a state of “stagnation”, following disappointing growth figures.
UK State Pension Expected to Climb £560 Under Triple Lock
State Pension Set for £560 Rise Next Year, Adding Pressure on Reeves
UK Economy Teeters on Stagnation as Cautious Households Stockpile Cash
The UK economy is teetering on the edge of stagnation as households boost savings to record levels outside of the pandemic era.
UK Treasury borrowing is set to exceed projections by £63bn.
A leading think tank has warned that the Treasury is on course to overshoot public borrowing forecasts by £63bn compared to estimates made before Labour came to power as Chancellor
UK Budget blamed for decline in retail sales
Official data show that retail sales declined sharply last month as consumers reined in spending ahead of Rachel Reeves’s Budget announcement.
UK State pension to rise to £221.20 a week
The state pension is poised to rise to £221.20 weekly starting in April, following the ONS’s announcement that average earnings, inclusive of bonuses, increased by 8.5% over the three months