OBR says squeezed wages and interest rate rises will turn clock back to 2013

OBR says squeezed wages and interest rate rises will turn clock back to 2013

Spending watchdog confirms UK now in recession with worst fall in living standards since records began

Business live – autumn statement updates and analysisAutumn statement – key points at a glance£6bn to insulate UK’s homes and a green light for Sizewell CElectric car owners to pay road tax from 2025Chancellor extends energy windfall tax to ‘low carbon’ generators

The UK has fallen into a recession which will last more than a year and push half a million people out of work, according to a fresh forecast from the Office for Budget Responsibility (OBR).

There will be the biggest fall in living standards since records began with inflation “tipping the economy into a recession lasting just over a year”, the spending watchdog said.

Continue reading…

​Spending watchdog confirms UK now in recession with worst fall in living standards since records beganBusiness live – autumn statement updates and analysisAutumn statement – key points at a glance£6bn to insulate UK’s homes and a green light for Sizewell CElectric car owners to pay road tax from 2025Chancellor extends energy windfall tax to ‘low carbon’ generatorsThe UK has fallen into a recession which will last more than a year and push half a million people out of work, according to a fresh forecast from the Office for Budget Responsibility (OBR).There will be the biggest fall in living standards since records began with inflation “tipping the economy into a recession lasting just over a year”, the spending watchdog said. Continue reading… 

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