Christine Reid punched the air when she heard Britain plans to tear up the limits on what people can do with their pension savings. Instead of relying on a “paltry” income, she can now invest in property.
U.K. retail sales rose more than three times as much as economists forecast in February as Internet sales and spending on food surged, signaling the recovery maintained its momentum in the first quarter.
The pound had the biggest weekly drop in four months versus the dollar as the Federal Reserve and Bank of England gave divergent signals on the future path of interest rates, boosting the relative allure of the greenback.
Chancellor of the Exchequer George Osborne said the U.K. economy will grow more than previously forecast and announced help for savers and pensioners as he set out his penultimate budget before the 2015 election.