UK

OECD Cuts UK Growth Forecast to 0.7% for 2026

The Organisation for Economic Co-operation and Development (OECD) has downgraded its growth forecast for the UK economy to 0.7% for 2026, down from a previous estimate of 1.2%, making it the second lowest growth rate among G7 countries. The OECD also raised its inflation forecast for the UK to 4%, up from 2.5%, attributing these changes to the economic impact of the ongoing Iran war, which is expected to disrupt energy supplies and drive up prices.

NS&I to Compensate 37500 Customers Amid Scandal

National Savings and Investments (NS&I) has announced plans to compensate approximately 37,500 customers affected by a scandal involving delayed access to premium bonds and missing funds, with payouts potentially totaling up to £476 million. Following operational failures that were reported to the Treasury in December, NS&I chief executive Dax Harkins has resigned and been succeeded by Sir Jim Harra. Pensions Minister Torsten Bell emphasized that the funds being returned belong to the estates of the deceased and that NS&I must take responsibility for rectifying the situation.

Victims' Families Criticize Authorities in Nottingham Inquiry

During the Nottingham Inquiry, Wayne Birkett, a survivor of the attacks by Valdo Calocane, and his partner Tracey Hodgson testified that the families of the victims have been 'tortured' by the authorities due to their handling of the situation. The inquiry revealed that Birkett suffered a traumatic brain injury from the incident, which also resulted in the deaths of three individuals, including two students and a school caretaker. Family liaison officer Det Con Raj Johal admitted to difficulties in fully updating families, while Det Ch Insp Claire Gould stated that bereaved families should have been informed about their loved ones' deaths much sooner.

UK Relative Poverty Rises to 13.4 Million

New government figures reveal that 13.4 million people in the UK were living in relative poverty in the year up to March 2025, an increase of half a million from the previous year. This includes approximately 4 million children, with the number of children in poverty remaining stable compared to the prior year. Work and Pensions Minister Diana Johnson described the levels of poverty as "wholly unacceptable," while Prime Minister Sir Keir Starmer has prioritized reducing child poverty by the next election in 2029.