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This will be offset by higher outgoings.
Older people are more concerned with the increased cost of maintaining their quality of life over a small increase in cash savings (any large amounts of assets will likely be in shares and property rather than cash so not relevant to an increase in interest rates)
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Anyone who thinks Sunak looks at the current state of the tory party/polls and thinks he would go anywhere near it is more insane than the current cabinet.
Maybe after the next GE he might parachute in and try to do a Starmer?