UK government says new measures to ease cost of living pressure to come into force on April 1st
The UK government's announcement focuses on a boost to the national living wage and reductions in energy costs, aimed at alleviating cost of living pressures.
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UK government says new measures to ease cost of living pressure to come into force on April 1st
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- Increasing national living wage to £12.71.
- Energy bills are to be cut by average £117 a year for millions across the UK and locked in until end of June.
These measures could provide a short-term lift to consumer spending, but their effectiveness in altering the inflation trajectory or impacting broader economic trends remains to be seen. Markets may react to these fiscal measures as they reconsider their expectations for growth and inflation in the upcoming quarters.
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