Economic Outlook

Unemployment in the UK fell to 2.24m in the three months to February, the lowest level since March 2009.

Twice as many British households are deemed ‘financially vulnerable' as ‘financially secure', while more than half of households have experienced financial difficulties in last twelve months, a global survey has found.

The International Monetary Fund (IMF) has upgraded its UK GDP forecast and now predicts the country will see stronger growth than any other G7 economy this year.

Policymakers risk the UK economic recovery stalling if they fail to address its "undue reliance" on consumer spending, the British Chambers of Commerce has said.

The overall UK group risk market grows by 2.8% to nearly 11 million people at the end of 2013, according to Swiss Re's Group Watch 2014.

House prices are expected to rise by 10% this year and in 2015 due to a loosening of credit conditions, rising wages and a structural shortage of housing.

Bank of England governor Mark Carney has said rates could be as high as 3% over the medium term to 2017, endorsing comments made by colleague Charles Bean earlier this week.

The outlook for the financial services sector is seen to be improving as a consequence of the Retail Distribution Review (RDR), but most advisers report protection sales continue to lag following its introduction.

The UK's economic recovery is "not yet secure", Chancellor George Osborne has warned, ahead of next month's Budget.

Monetary Policy Committee members predict any rise in the Bank base rate, currently at 0.5%, which occurs over the next two to three years will be gradual.