UK consumer confidence tumbles as households fear ‘painful’ budget; UK debt hits 100% of GDP – as it happened

Consumers are nervously awaiting the budget, reports data provider GfK, while national debt hits highest level since 1960s

• UK consumer confidence falls sharply amid fears of painful' budget

Shares have dropped in London this morning.

Both the blue-chip FTSE 100 and the smaller FTSE 250 index of medium-sized firms are down around 0.5%.