Consumers: Older People

(asked on 10th September 2025) - View Source

Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of reports of dropping consumer confidence among people aged over-65.


Answered by
Lord Livermore Portrait
Lord Livermore
Financial Secretary (HM Treasury)
This question was answered on 22nd September 2025

The Government monitors a wide range of indicators to assess the UK’s economic performance, including measures of consumer confidence. Consumer confidence, as measured by the Growth from Knowledge (GfK), reached its highest level of the year in August 2025. Official economic forecasts and assessments of policy impacts are set out in the Office for Budget Responsibility’s Economic and Fiscal Outlook documents, the most recent of which was published in March 2025.

Consumer confidence is intrinsically linked to household finances and the broader economic outlook. The Government is committed to driving growth and raising living standards and has taken steps to support those aged over 65, including protecting the Triple Lock at the Budget in October 2024, which delivered a 4.1% increase in State Pensions in April 2025, benefiting over 12 million people. The Government has also extended the £3 bus fare cap and continues to take action to reduce inflation.

Reticulating Splines