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It is saying something that the Bank of England has just delivered its biggest economic upgrade in the history of the Monetary Policy Committee, yet the UK is still effectively flatlining.

But that is the paradox facing the economy at the moment.

On the one hand, the outlook for the country as a whole is considerably rosier than it was only a few months ago.

If you follow these forecasts you may recall that late last year the Bank said that the UK economy might well face the longest recession in modern history.

Britons face extra £482 per month on mortgage since 2021 – latest updates

But now it has dramatically changed its outlook.

Now it believes that the economy will not shrink at all in any of the coming quarters.

A few months ago it suggested that the UK economy wouldn’t regain its pre-pandemic size for many years; now it believes it will hit that watershed at the end of this year.

Not long ago it thought the unemployment rate would rise above 6 per cent by 2025; now it thinks it will be below 4 per cent.

This is very good news.

The problem is that it’s hard to revel all that much in comparative good news when you look at the absolute numbers.

Good news needs to be put in perspective

Let’s put things into perspective.

Up until a few years ago “trend growth” was above 2 per cent. In other words, in a “normal” year you might expect the economy to grow by maybe 2-2.5 per cent.

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Now look at the latest Bank forecasts: growth of a quarter percentage point this year, three-quarters of a percentage point next year, and the same again in 2025.

This is very weak growth.

Now consider what’s happening beneath the surface.

Every household in the country is facing the pain of rising prices, but for some, the impact is worse than for others.

Some especially higher-income households, have considerable savings built up during the pandemic.

Many older households have already paid off their mortgages, to the extent that the proportion of homes without mortgages is higher than ever before.

Yet for those households who do not benefit from these financial cushions, life is tough – and getting tougher.

Why there is more pain to come

Only around a third of the eventual “pain” of higher interest rates has yet been felt, because most mortgage payers have yet to refix their loans onto higher rates.

But that will happen for millions in the coming months.

Moreover, one of the other key changes in the Bank’s forecasts today is that food inflation is likely to be considerably higher in the coming years than previously expected.

While food producers’ costs are beginning to come down, the prices we pay are still rising fast.

Some have characterised this as “greedflation” but economists say these companies’ margins remain compressed.

Even so, even after adjusting for the Bank’s new, less gloomy forecasts, it’s hard to envisage a return of the feelgood factor in the coming months.

The economy is not doing as badly as previously thought – this is a cause for reassurance.

But for most households, the pressures from rising living costs are still intensifying rather than abating.

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British woman dies in French Alps after crashing into another skier

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British woman dies in French Alps after crashing into another skier

A 62-year-old British woman has died in the French Alps after colliding with another skier, according to local reports.

The English woman was skiing on the Aiguille Rouge mountain of Savoie at around 10.30am on Tuesday when she hit a 35-year-old man who was stationary on the same track, local news outlet Le Dauphine reported.

It added that emergency services and rescue teams rushed to the scene but couldn’t resuscitate the woman, who died following the “traumatic shock”.

The man she collided with was also said to be a British national.

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Local reports said the pair were skiing on black slopes, a term used to describe the most challenging ski runs with particularly steep inclines.

A spokesperson for the Foreign, Commonwealth and Development Office told Sky News: “We are supporting the family of a British woman who died in France and are in touch with the local authorities.”

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Singer Linda Nolan dies ’embraced with love’ with siblings by her side

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Singer Linda Nolan dies 'embraced with love' with siblings by her side

Singer Linda Nolan, who rose to fame alongside her sisters in The Nolans, has died after several years of battling cancer.

The Irish star, 65, and her sisters Coleen, Maureen, Bernie, Denise and Anne, had a run of hits in the late 1970s and ’80s – including the disco classic I’m In The Mood For Dancing.

Paying tribute on The Nolans‘ X account, her sisters described her as “a pop icon and beacon of hope”, who “faced incurable cancer with courage, grace and determination, inspiring millions”.

Linda died peacefully in hospital this morning, “embraced with love and comfort” with her siblings by her side, her agent Dermot McNamara said in a statement.

“As a member of The Nolans, one of the most successful girl groups of all time, Linda achieved global success; becoming the first Irish act to sell over a million records worldwide, touring the world and selling over 30 million records,” he said.

“Her distinctive voice and magnetic stage presence brought joy to fans around the world, securing her place as an icon of British and Irish entertainment.”

As well as her TV and musical career, Linda helped to raise more than £20 million for numerous charities, including Breast Cancer Now, Irish Cancer Society, Samaritans and others.

“Her selflessness and tireless commitment to making a difference in the lives of others will forever be a cornerstone of her legacy,” Mr McNamara said.

Linda Nolan, Anne Nolan, Bernie Nolan, Coleen Nolan, and Maureen Nolan.
Pic PA
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Five of the Nolans in 1983 (L-R): Linda, Anne, Bernie, Coleen and Maureen. Pic: PA

Linda’s death came after she was admitted to hospital with pneumonia over the weekend. She began receiving end-of-life care after slipping into a coma on Tuesday.

Details of a celebration of the star’s “remarkable life” will be shared in due course.

Linda was born to Tommy and Maureen Nolan in Dublin on 23 February 1959, the sixth of eight children.

Her parents were both singers and keen to turn their young family into a musical troupe. Linda made her stage debut aged just four.

Those early years put the siblings on track for a career in show business which lasted for decades. As well as I’m In The Mood For Dancing, The Nolans had hits with Gotta Pull Myself Together, Attention To Me and Don’t Make Waves, and they also had their own TV specials.

At their height, they toured with Frank Sinatra and were reported to have outsold The Beatles in Japan.

Linda left the group in 1983, but later reformed with her sisters for several comeback performances. She also became known for musical theatre, most notably performing the role of Mrs Johnstone in Blood Brothers for three years from 2000.

The Nolan Sisters, (left to right) Bernadette, Denise, Linda (top), Anne and Maureen
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L-R: Bernie, Denise, Linda (top), Anne and Maureen Nolan pictured in 1975, before youngest sister Coleen joined the group

Four siblings struck by cancer

Linda was first diagnosed with breast cancer in 2005, and underwent a mastectomy two days before her 47th birthday.

After being given the all-clear in 2011, in 2017 she was diagnosed with secondary breast cancer. Three years later, Linda and Anne together revealed they were being treated for cancer once again.

The sisters were diagnosed with different forms of the disease just days apart after they returned home from filming a series of their show, The Nolans Go Cruising. Linda had cancer of the liver, while Anne had breast cancer.

Linda Nolan seen attending the Bold x Pink Ribbon Foundation Party in 2024.
Pic: Shutterstock
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The star, pictured last year, had battled cancer for several years. Pic: Shutterstock

They went on to write Stronger Together, an account of their journey that included frank details of their treatments and the side effects.

But in 2023, Linda revealed the cancer had spread to her brain and she was beginning treatment as part of a new drug trial.

The Nolans lost their second-youngest sister, Bernie, to cancer in 2013, aged 52.

Loose Women star Coleen Nolan also revealed she was diagnosed with skin cancer last year, and said she was using a chemotherapy cream to remove it.

Linda’s husband of 26 years, Brian Hudson, died in 2007 after being diagnosed with skin cancer.

Anne Nolan is now cancer-free.

Tributes to star ‘who was always a joy’

TV star and singer Cheryl Baker and comedian Tommy Cannon are among those who have paid tribute.

“I’m heartbroken to hear about the passing of Linda Nolan,” Cannon wrote on X. “I had the pleasure of working with her on so many occasions, and she was always a joy – full of warmth and love. My thoughts and love are with the Nolan girls and the whole family.”

“The most incredible voice, the wickedest sense of humour, such a massive talent,” Baker wrote. “You’re with Brian now, Lin.”

Loose Women also sent its love to her family. Linda appeared as a guest panellist on the ITV chat show over the years, alongside her sister Coleen.

The Blackpool Grand Theatre described her as “a true Blackpool icon”.

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Trainee gas engineer, 20, wins £7.5m in lottery – but won’t quit work

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Trainee gas engineer, 20, wins £7.5m in lottery - but won't quit work

A 20-year-old trainee gas engineer who won £7.5m says he was back working on blocked drains the day after claiming his cash.

James Clarkson, 20, from Carlisle, Cumbria, found out he’d hit the £7,533,329 National Lottery jackpot on 4 January – but said he has no plans to quit his job.

“I was out in the cold fixing blocked drains the day after I found out I had won,” he said.

“It was a bit grim but that’s reality.

“I’m not going to stop working, I’m too young,” he added, admitting he knew it might sound “mad” to some.

“I want to qualify as a heating engineer and then go from there.

“I need to have a purpose in life, plus dad wouldn’t let me not work anyway. He says there are plenty of millionaires out there that still work and you need a reason to get up each day.”

Mr Clarkson celebrating with his family. Pic: PA
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Mr Clarkson celebrating with his family. Pic: PA

Mr Clarkson added he still planned to have “some nice holidays” in between working, and revealed one of his first purchases was an all-inclusive luxury break to Cape Verde, along with a few designer items including a Gucci bag for his girlfriend and two new jackets for himself.

He said he also planned to splash out on a new car, possibly an Audi – but for now, he’s got his work van.

“If you drive a cold work van all day, going from job to job, you’d understand,” he said.

“The comfort, the steering, the heated seats. I realise how jammy that sounds, not many people my age can afford the car insurance let alone a car like that to drive.”

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As a huge Manchester City fan, he said he was also looking to buy a season ticket at the Etihad Stadium, as well as taking care of his extended family – starting with paying off his parents’ mortgage.

James Clarkson holds bespoke Manchester City kit after lotto win. Pic: PA
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The new multi-millionaire holds up bespoke Manchester City kit celebrating his win. Pic: PA

He said: “I’ve been thinking about it a lot, it’s what I want to do. I told them last night and they seemed really overwhelmed.

“We are close and they have always been there for me. This win isn’t just for me, I want to make sure we all benefit.”

Mr Clarkson played on the National Lottery app, choosing his winning numbers – 16, 19, 22, 24, 27 and 35 – at random.

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