Chancellor Rachel Reeves’ Spring Statement revealed a modest economic outlook, with inflation decreasing and families projected to be £1,000 better off by the next election due to lower energy bills and frozen rail fares. However, growth forecasts were downgraded to 1.1%, and unemployment is expected to rise to 5.3%. The state pension will increase by 4.8% in April, but no changes were announced regarding student loan repayments or inheritance tax, despite concerns over rising tax liabilities for pensioners.
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