U.K. Economy Rebounds But Faces Twin Headwinds

The video discusses the UK's economic recovery, highlighting a 5.5% GDP growth in the second quarter, surpassing expectations. However, challenges such as material shortages and rising COVID cases are causing concerns, leading the Bank of England to downgrade its third-quarter forecast. The potential for three rate hikes in 2022 adds complexity to managing inflation without hindering recovery. Additionally, the end of the UK furlough scheme and the £20 Universal Credit uplift could pressure household finances, potentially reversing economic gains.

How many households were benefiting from the £20 a week uplift in Universal Credit?

What are the potential consequences of ending both the furlough scheme and the Universal Credit uplift?