Go back a few decades and the average family unit consisted of Mum, Dad and 2.4 children. 2.4 Children also being a popular comedy TV series in the 1990s about an average family. In this actuarially average family Dad was three years older than Mum, and Mum was expected to live three years longer than Dad. Mum would therefore be expected to live six years on her own without Dad, but those 2.4 children would be there to support her. She would not be on her own.
Interest rates are now at their highest level since February 2009 when they were cut from 1% to 0.5%. The Bank cut the base rate to 0.25% in August 2016 before raising it back to 0.5% in November 2017. In its meeting, the MPC agreed that the economic dip in the first quarter was temporary, with momentum recovering in Q2.