As unemployment rises economic uncertainty could give Financial Planners a golden opportunity to prove their worth, Quilter Financial Planning has told Financial Planning Today.

The Treasury has cancelled the Autumn Budget in order to focus on the shorter-term response to the economic hardships caused by the Coronavirus pandemic.

UK unemployment continued to rise in the three months to July, with those aged between 16 and 24 seeing the biggest drop in employment, according to new data from the Office for National Statistics (ONS).

The majority of investors were expecting yesterday’s figures from the Office of National Statistics to mark the start of a recession and more than two in five think it will be worse than the financial crisis, according to a new survey.