The UK manufacturing sector was the largest contributor to production output in June 2023, which in turn was the largest contributor to GDP growth, according to the latest ONS figures. The UK economy grew by a modest 0.5 per cent in June 2023, following a fall of 0.1 per cent in May. The largest contributor to…
State pensions costs in Britain are expected to hit £135bn by 2025, which is £2bn higher than education, policing and defence combined, according to an analysis of official figures by The Times. The growth in pension costs is partly down to an ageing population and a guaranteed annual increase, known as the “triple lock”.…
The UK economy showed surprising resilience in the second quarter between April and June, growing 0.2% despite rising interest rates. This marks a slight pickup from near-stagnant growth in previous quarters, though GDP remains below pre-pandemic levels. Additionally, the growth has led markets to believe that more interest rate hikes could follow from the Bank…