Andy Burnham Cuts Energy Bills as UK Wage Growth Holds at 3.4%
Updated
Updated · Devdiscourse · Jul 21
Andy Burnham Cuts Energy Bills as UK Wage Growth Holds at 3.4%
3 articles · Updated · Devdiscourse · Jul 21
Summary
Andy Burnham unveiled plans to cut domestic energy bills, aiming to ease cost-of-living pressure as Britain’s economy navigates political uncertainty.
UK wage growth excluding bonuses held at 3.4% in the three months to May, matching forecasts and marking the weakest pace since October 2020.
Unemployment stayed steady and private-sector pay growth remained subdued at 2.9%, reinforcing signs that the labor market is stabilizing rather than reaccelerating.
The softer pay backdrop could reduce pressure on the Bank of England to change interest rates, even as policymakers watch global energy-price risks tied to geopolitical tensions.