UK disposable incomes squeezed by price rises and tax changes

According to the Office for National Statistics, UK households saw their disposable incomes fall zero point eight percent in the first quarter of the year, squeezed by inflation and higher capital gains taxes. The broader economy, however, grew zero point six percent during the same period, with growth in services, production, and construction sectors. The data captures a familiar tension: while the economy expands, household spending power contracts.

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