Chancellor Jeremy’s Hunt’s claiming earners on average salaries will be over £1,000 better off every year in their retirement - but how?
In his first Mansion House speech, Hunt set out his plans to reform the pension industry as part of a series of measure he reckons could bring in up to £75 billion.
It came as unemployment and wage growth both unexpectedly rose on Tuesday, data which is likely to stoke further fears of stagflation.
Meanwhile, in more gathering storm clouds, two-year mortgage rates were at 15-year high of 6.66 per cent, breaching the peak hit in the wake of last year’s disastrous Truss/Kwarteng mini-budget.
Bank of England governor Andrew Bailey was bullish in his speech at the annual City gala dinner, reporting inflation “is set to fall markedly over the remainder of the year”.
But is it? And can we expect some extra money in our pension pots, or is it all pre-election smoke and mirrors?
The Leader podcast’s joined by Alfie Stirling, chief economist and associate director at The Joseph Rowntree Foundation.
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