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Average wages (including bonuses) in the three months to July were 8.5 per cent higher than a year earlier. This should mean that state pensions rise by 8.5 per cent from April 2024, if the government does not claw back anything; the predicted rise would bring into the tax-paying bracket 650,000 more pensioners, a total of 9.15 million. GDP fell by 0.5 per cent in July. Wilko shops began closing as attempts to rescue the chain failed; Poundland offered to take on the leases of up to 71 shops. The cost of a first-class stamp is to rise from £1.10 to £1.25; before April this year it was only 95p. Bernard Looney resigned as chief executive of BP over a matter of personal relationships. A government auction for contracts for new offshore wind farms brought not a single bid. Britain rejoined the Horizon scientific research scheme after reaching an agreement with the European Union.
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