High rates could end 40-year wealth boom.
Interest rate rises deliver biggest wealth fall for households since World War II
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Current Affairs
UK economy remains on shaky ground
GDP falls by 0.1% in May.
Record wage growth not fast enough to beat inflation
Wage growth nevertheless fuels inflation fears.
Business confidence falls in June
Directors cite stubborn inflation as their main concern.
HMRC accused of ‘poor complaint handling’
Poor service levels drive customer complaints.
BoE increases interest rates to 5%
Base rate rises by more than expected.
Inflation remains the same in May
Falling fuel prices offset by recreation and culture costs.
FSB urges summer support for tourism sector
Recommendations come after predicted boom in ‘staycations’.
Ministers must support HMRC, says CIOT
CIOT’s new president urges Government for more support.
Nearly 800 mortgage deals withdrawn
Lenders are concerned about future interest hikes.
Access to finance limited for SMEs
Low awareness and high borrowing costs limit growth.
Inflation falls to 8.7% in April
Food prices remain at “near historic highs”.
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