{"id":72815,"date":"2021-10-29T07:53:02","date_gmt":"2021-10-29T07:53:02","guid":{"rendered":"https:\/\/secondchargemortgageuk.com\/?p=72815"},"modified":"2021-10-29T07:53:05","modified_gmt":"2021-10-29T07:53:05","slug":"budget-2021-unemployment-likely-to-peak-at-5-2","status":"publish","type":"post","link":"https:\/\/secondchargemortgageuk.com\/budget-2021-unemployment-likely-to-peak-at-5-2\/","title":{"rendered":"Budget 2021: Unemployment likely to peak at 5.2%"},"content":{"rendered":"\n<p>Chancellor Rishi Sunak revealed during the Budget 2021 that unemployment is expected to peak at 5.2%, according to the Office for Budget Responsibility (OBR).<\/p>\n\n\n\n<p>As a result, Sunak said this will mean: \u201cover two million fewer people will be out of work than previously feared.\u201d<\/p>\n\n\n\n<p>The OBR expects gross domestic product (GDP) to expand by 6.5% this year, compared to the 4% forecast at the Budget 2021 in March.<\/p>\n\n\n\n<p>This is below what the Bank of England has predicted, which is 7.4% of growth.<\/p>\n\n\n\n<p><em>To find out more about how we can assist you with your <strong>Second Charge Mortgage<\/strong> please <a rel=\"noreferrer noopener\" href=\"https:\/\/secondchargemortgageuk.com\/contact-us\/\" target=\"_blank\">click here<\/a><\/em><\/p>\n\n\n\n<p>UK GDP rose by 5.5% between April and June, compared with the first three months of the year, more than any other country within the G7 group.<\/p>\n\n\n\n<p>Rising inflation has been predicted to reach 3.1% and likely to rise further.<\/p>\n\n\n\n<p>Sunak said this is due to global factors, such as the world opening up after the pandemic and demands for goods increasing.<\/p>\n\n\n\n<p>Addressing Parliament, Sunak said if recovery is strong, the government will be able to return to spending 0.7% of GDP on overseas aid by 2024, and that spending is growing by 3.8% a year in real terms.<\/p>\n\n\n\n<p><em>By Jake Carter<\/em><\/p>\n\n\n\n<p>Source: <a rel=\"noreferrer noopener\" href=\"https:\/\/www.mortgageintroducer.com\/budget-2021-unemployment-peak-5-2\/\" target=\"_blank\">Mortgage Introducer<\/a><\/p>\n\n\n\n<p><em>Discover our <a rel=\"noreferrer noopener\" href=\"https:\/\/secondchargemortgageuk.com\/\" target=\"_blank\"><strong>Second Charge Mortgage Broker<\/strong><\/a> services.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chancellor Rishi Sunak revealed during the Budget 2021 that unemployment is expected to peak at 5.2%, according to the Office for Budget Responsibility (OBR). As a result, Sunak said this will mean: \u201cover two million fewer people will be out of work than previously feared.\u201d The OBR expects gross domestic product (GDP) to expand by [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":72483,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1978],"tags":[2081,2098,2141],"yst_prominent_words":[619,488,675,33,485],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v14.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Budget 2021: Unemployment likely to peak at 5.2%<\/title>\n<meta name=\"description\" content=\"Chancellor Rishi Sunak revealed during the Budget 2021 that unemployment is expected to peak at 5.2%, according to the Office for Budget Responsibility.\" \/>\n<meta name=\"robots\" content=\"index, follow\" \/>\n<meta name=\"googlebot\" content=\"index, follow, max-snippet:-1, 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