UK consumer confidence falls sharply amid fears of ‘painful’ budget

Concerns over government plans wipe out progress made this year to rebuild household morale

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Consumer confidence in the UK has fallen sharply amid growing concerns over government plans for a “painful” budget, risking a hit to the economic recovery from the cost of living crisis.

The latest barometer of sentiment from the data company GfK found consumer confidence fell to the lowest level since March, wiping out progress made this year to rebuild household morale.