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The National (Scotland)
The National (Scotland)
National
Judith Duffy

One in five Scots households faces savings wipe out

Niesr Inflation Recession UK Government
Shoppers in a supermarket. Photograph: PA

A FIFTH of Scots households will have their savings wiped out by the soaring cost of living by 2024, a new report warns.

The UK is set to enter a recession lasting for months and the threat of the economic nightmare of ‘stagflation’ - slow growth, high unemployment and rising prices - has returned for the first time since the 1970s.

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