British households withdrew £4.6bn from bank accounts last month, the highest level since monthly records began in 1997, according to the Financial Times. The paper says the data, published by the Bank of England, suggests consumers are either shopping around for higher interest rates or tapping into their savings to pay their bills.
Sources suggest the UK has moved past its technical recession with first-quarter growth surpassing that of the US and Eurozone, a positive development for Rishi Sunak.