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Consumer confidence in the UK has taken a sharp downturn, with pensioners’ pessimism about their future finances leading to the decline ahead of Chancellor Rachel Reeves’ upcoming Budget. According to Which?’s latest consumer insight tracker, confidence in both the future UK economy and household financial situations has fallen for the second consecutive month. A growing lack of confidence has emerged among those of pension age after the new Labour Government’s decision to means-test Winter Fuel Payments going forward. Net confidence in the economy has plummeted to -34, the lowest level since …

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