Bank of England governor predicts UK recession will be ‘very small’, as MPs push for interest rate cuts – as it happened

Andrew Bailey tells MPs there are signs that UK economy is picking up, after GDP shrank in the last two quarters

• UK shows signs of recovery from mild recession, says Bank of England

Away from Barclays...Britain's insecure jobs market and high housing costs are leading to the growth of a precarious middle class struggling to maintain a decent living standard on household incomes as high as 60,000 a year.

A study released by abrdn Financial Fairness Trust, a research body set up by the fund manager, said the uncertain nature of work meant there was a one in three chance that someone earning a middle income today would not be doing so next year.

It is people earning between 30,000-60,000 a year, depending on the type of household, people who you would expect to be doing OK."