General update Thanks to Colin Trend for spotting the headline that “UK consumer confidence falls to lowest level since 1974”. The headline UK consumer confidence index, a measure of how people view their personal finances and the wider economic outlook, dropped by 2% to -40 in May 2022, surpassing the previous record low of -39 set in July 2008 when the global banking system was imploding. Link: https://www.theguardian.com/business/2022/may/20/uk-consumer-confidence-falls-to-lowest-level-since-1974
This comes as inflation rose to 9% in April 2022. StepChange has lobbied the government to address the shortfall between people's costs and their incomes. Richard Lane said: "While we don't doubt that policymakers are aware of the problem, at present the measures being taken to plug the gap are simply not sufficient to help many households avoid incurring debt as a result of the rising cost of living." Last month, Citizens Advice called on ministers to increase benefits in line with the cu...
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