Ofgem approves early investment in three UK electricity ‘superhighways’

A recent survey by Ofcom revealed that UK residents are spending an average of four hours and 30 minutes online daily in 2025, which is half an hour longer than during the pandemic. This increase highlights a shift in digital consumption patterns as people continue to adapt to a more online-centric lifestyle.

The Institute for Public Policy Research has indicated that the UK may soon see a reduction in the premium it pays to borrow compared to other major countries, as confidence in the government's fiscal strategy grows following Chancellor Rachel Reeves's autumn budget announcement. This budget aims to increase the UK's financial headroom significantly by 2030.

UK gilt yields have seen a slight decrease compared to other major economies, indicating a potential shift in the bond markets as Chancellor Rachel Reeves navigates fiscal challenges. Despite this drop, the UK still faces a significant premium on borrowing costs, with 10-year government gilt yields rising compared to US Treasury bonds and eurozone counterparts since the last general election.

Thirteen Labour MPs voted in favor of initiating discussions on the UK potentially rejoining the EU customs union, as part of a bill proposed by the Liberal Democrats. The vote resulted in a tie, with 100 MPs supporting and 100 opposing the measure, highlighting a divided stance on this issue within Parliament.

Ofgem has proposed a plan to assist new residents in Great Britain by providing them with £30 of energy credit before they set up an energy account, addressing the issue of growing gas and electricity debt. This initiative allows consumers approximately two weeks to establish their energy supply before facing disconnection.

A report by Covid counter-fraud commissioner Tom Hayhoe revealed that fraud and errors related to government support schemes during the pandemic have cost UK taxpayers £10.9 billion, with most losses from bounceback loans, furlough pay, and the eat out to help out initiative remaining unrecovered.

UK grocery inflation has remained steady at 4.7%, according to Worldpanel, continuing to exert financial pressure on households. This stability follows a period of fluctuating food prices, which have recently seen increases despite a broader decline in general inflation rates.

UK consumer spending showed disappointing results in November, as surveys indicated a decline in consumer confidence and spending patterns. This downturn reflects ongoing economic challenges and uncertainty affecting various sectors within the UK market.