And what about the positives? How do feel about the following:
UK GDP grew by 0.7% in Q1 2025 - the fastest rate in over a year and the strongest in the G7.
Wages are now rising faster than inflation, with average pay up 5.2% year-on-year and inflation down to 3.4%.
Retail sales volumes are up 1.7% compared to last year, and debit card spending has increased by 13%.
Business investment rose by 6% in the first quarter, especially in sectors like manufacturing and transport.
Bank lending to businesses is forecast to grow by 3.1% this year, after a period of stagnation.
Consumer confidence is improving, with GfK’s index rising from –22 to –18.
Business optimism is growing in 11 out of 12 UK regions, according to Lloyds' barometer.
Private sector activity has returned to expansion territory at 50.3.
The Bank of England has already cut interest rates once and is expected to cut further in the second half of 2025.
Household debt has fallen to 118% of disposable income, its lowest level since 2007.
Savings remain steady, with the household saving ratio at around 10–12%, providing a buffer for spending.
Inflation in food and energy has eased significantly, helping to stabilise prices and improve household budgets.