Alliance Trust highlights uncertain financial outlook

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Alliance Trust highlights uncertain financial outlook

A recent report produced by the Alliance Trust has shown that the financial wellbeing of consumers in the UK has fallen in the first quarter of the year.

The company's UK financial reality index decreased to 77.3 from 90.5 and head of the Alliance Trust Research Centre Shona Dobbie has labelled it a "disappointing" result.

She explained that the financial situation in the country is being affected by uncertainty in the economy and the prospect of changes to the government's fiscal policy.

"Unfortunately, the prospect of cuts in public spending and increases in taxation following the election are expected to add further to the pressures facing households," remarked Ms Dobbie.

In her view, the drop in the Alliance Trust UK financial reality index is down to a reduced level of earnings and higher inflation.

Previous research by the group indicated that the demographic hardest hit by inflation are people between the ages of 50 and 64.

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