Evidence Mounts That UK Budget Gloom Is Rattling Confidence
- REC, BRC join list of surveys showing sudden fall in optimism
- Starmer has tried to give Labour messaging more positive tone
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A fresh round of UK economic indicators are bolstering arguments that the Labour government’s efforts to prepare the public for a tough budget next month have backfired on sentiment.
Two surveys released on Thursday underscored the concerns being felt by consumers and businesses about the prospect of tax hikes and spending cuts to close what Chancellor of the Exchequer Rachel Reeves has said is a “black hole” in the public finances. Part of that effort was a headline-grabbing decision to cut winter fuel subsidies for about 10 million pensioners.