Consumer confidence ‘falls sharply’ after Rachel Reeves’ decision to strip 10 million pensioners of winter fuel payments [Video]

19:40 EDT 24 Oct 2024, updated 20:55 EDT 24 Oct 2024

Consumer confidence has fallen sharply after Labour stripped winter fuel payments from millions of pensioners and warned of painful measures in next month’s Budget.

A survey from market research firm GfK showed its headline measure of confidence fell to a six-month low in September.

The figures came as the Resolution Foundation think-tank warned that the government would struggle to meet its target of achieving the best growth in the G7 under current plans – and needed to be bolder.

It is the latest evidence that any hopes that Labour’s election could usher in a period of stability and growth are starting to ebb away amid a welter of doom and gloom.

Claims that it inherited the worst economic situation since the Second World War– and has discovered a £22billion ‘black hole’ in public finances – have cast a pall of pessimism that has engulfed investors as well as beleaguered …