Thank you. To our readers, corporate and foundation donors. The total figure raised by our cost-of-living appeal, alongside our sister paper The Independent, has passed a remarkable £4 million. Over two-thirds of this has already been distributed in the form of grants to charities, helping some of the most disadvantaged people across the country. This will make a difference greater than some of us can possibly imagine.
So far, we have handed out nearly £2.8 million in grants to more than 200 charities, making this the largest disbursement to charities from any UK newsgroup in response to the cost-of-living crisis. Within those numbers, our grants are providing assistance to people over the winter with food, fuel, warm places and activities for young people.
No one in Britain should be faced with a choice between eating or heating their homes. But this is about more than mere survival. Our grants in partnership with Comic Relief and The Childhood Trust have paved the way for young people from low-income backgrounds to get out of the house and see the country, visiting forests, farms and the sea. This year will continue to be a hugely challenging time for parents and children across the country. Your support is making life better.
Recession still looms
The UK escaped a recession at the end of last year by the slimmest of margins. In difficult times, we must take the wins where we can get them. But the economic headwinds remain intense.
The economy shrank by 0.5 per cent in December according to the ONS, dragged down by a large fall in services due in part to strikes and the absence of Premier League football during the World Cup. While some economic and business data has been stronger in recent months, most economists — including the Bank of England and IMF — expect the UK to enter recession this year.
Meanwhile, the UK stands alongside sanctions-hit Russia as one of only two economies in the G20 to remain below their pre-pandemic levels. And we are not expected to surpass our pre-Covid output until 2026. It is years of flat-lining growth, rather than a one-off month of contraction, that must worry the Government and will feed into the cost-of-living crisis. Until Britain fixes its low growth and poor productivity problem, the challenging economic news and tough times will endure.
Sports fans in heaven
If you want to take your mind off the bad economic data, and you’re of a sporting persuasion, there is good news.
This weekend sees the Six Nations return, with England hoping to bounce back from defeat by Scotland, the women’s T20 cricket World Cup starting in South Africa and a packed weekend of football.
To cap it off, Sunday night delivers the Super Bowl, with a half-time performance from Rihanna. Let the distractions begin.
