Double-dip recession ahead

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Economy shrank in November

The economy flipped into reverse in November for the first time since April. It shrank by 2.6% in the month that England spent under a second lockdown. That decline was smaller than many had feared, but it left GDP at 8.5% below its pre-pandemic level. Pubs and hairdressers were hardest hit, while online shops and construction projects like housebuilding continued to do just fine.

Help to buy extension?

MPs want an extension to the help to buy government scheme that lends extra cash to homebuyers. Construction delays could mean that new homes aren’t ready before the scheme is due to end on 31st March. Many buyers have already shelled out thousands in fees, before being told their home won’t be ready in time to qualify for the scheme.

Car insurance getting cheaper

In a rare upside to lockdown restrictions, quieter roads are leading to cheaper car insurance premiums. Drivers are now paying £52 less on average than last year according to comparison site Confused.com.

Lidl is £26 cheaper

You’ll pay almost £70 for a basket of groceries that costs just £42.67 at Lidl, according to Which?. In the consumer group’s battle of the supermarkets, the German supermarket pipped its rival Aldi by just 34p to be crowned the winner