It was a huge shock. I honestly had no idea they were dangerous.
You see warnings on cigarette packets, and photos of people with lung cancer, but you never see a picture of a person with skin cancer in a tanning shop.
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It’s not just a lack of warning about the health risks.
Earlier this year, a BBC investigation found tanning companies spreading dangerous misinformation on social media about how sunbeds can actually be good for you; falsely claiming, for example, that doctors prescribe sunbeds for issues like seasonal depression and skin disorders.
I don’t want anyone to be convinced that sunbeds can be beneficial to our mental or physical health.
This is highly damaging misinformation, and it’s terrifying. I wish I hadn’t experienced the very real dangers of sunbeds first hand; but, as I learned that day with the nurse, I have.
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And I paid the price.
Everyone Katie knew used sunbeds (Picture: Katie McVeigh)
I didn’t even think of myself as an excessive user. I might have gone two or three times a week before a holiday or night out. But then I wouldn’t go again for months.
‘That’s still a form of sunbed abuse,’ the nurse told me. She likened it to binge drinking – avoiding booze all week and then getting drunk on a Saturday night.
I was only 16 when I went on a sunbed for the first time. Everyone I knew did it – my mum, aunts, cousins and friends.
My mum was going to the tanning shop and asked if I wanted to go with her. I had a three-minute tan that first time and afterwards I felt great – like I was glowing.
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I found out later that it’s actually illegal for tanning shops, beauty salons and other commercial premises in the UK to allow anyone under 18 to use a sunbed, but no one ever asked my age.
But I was hooked. I started tanning regularly. I’m very pale, with a lot of moles, so I felt like it gave my skin a base colour.
After giving birth Katie went back to the tanning shops (Picture: Katie McVeigh)
Everyone around me was doing it.
On the weekends, my friends and I would make a trip to our local salon. I rarely went alone – it was more of a social thing. If somebody else was going, I’d tag along.
I left school at 16 and went into hairdressing so there was a big focus on beauty. You got your hair done, you got your nails done and you got a tan.
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I grew up in Belfast, which is one of the UK’s sunbed hotspots – according to charity Melanoma Focus, 37% of adults in Belfast use sunbeds. It’s just the done thing.
By the time I turned 20 I fell pregnant with my daughter Connie, now four, and during my pregnancy I didn’t go near sunbeds. To me it felt like smoking or drinking while pregnant – it was just something I didn’t think it was right to do.
But after giving birth I went back to the tanning shops. It felt like a wee treat and a bit of ‘me time’.
In the chaos of being a first-time mum, I found it was also a lot quicker than getting my nails or hair done – it was easier to fit in around childcare.
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Learn more about skin cancer symptoms
The main symptoms of melanoma skin cancer can include a new mole, or a change to an existing mole. These can appear anywhere on the body.
Normal moles tend to be:
Small
Round
Smooth-edged
One colour
Unchanging
Melanomas can be:
Larger
Unevenly shaped
A mix of colours
Changing in appearance
Other signs of melanoma could include moles that are swollen, sore, bleeding, crusty or or itchy. You can learn more here.
The main symptom of non-melanoma skin cancer is a growth or unusual patch on the skin, which can vary in size, texture and colour. You can learn more here.
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Then, in the summer of 2022 I noticed a black mole growing on my right cheek.
I’m a fairly moley person so at first I wasn’t too worried, but then it started looking different to my other moles – it kept scabbing over, dropping off, then growing again. This went on for a couple of months.
I sent photos to my GP. They weren’t worried either but they referred me to a dermatologist just to be on the safe side.
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In September 2022 I had the mole removed at a dermatology clinic and sent away to be biopsied. It would take six weeks to get my results, and during that time I didn’t really think about it. There hadn’t been any red flags yet.
Finally, the clinic called me and invited me to go in for my results.
It was awkward to arrange childcare, so I asked them why I couldn’t get them over the phone.
They told me I needed to go in person and to bring someone with me. That’s when I first realised.
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One mole in particular started to look different to her other moles (Picture: Katie McVeigh)
Driving to the clinic, I started to feel anxious. The phone call had unsettled me, something didn’t feel right.
At first, they said it looked like Stage 2 Melanoma and referred me to the Ulster Hospital, in Belfast, to have a larger section of tissue on my face – where the mole had been – removed.
They couldn’t tell me what my face would look like afterwards or how big the scar would be, but by that time my priority was staying alive.
I knew things were more serious than I’d first thought.
I had the surgery in February 2023 and also woke up with a scar on my neck where an associated lymph node had been removed – to test to see if the cancer had spread.
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Waiting for the next set of resultsto find out if it had spread into my lymph nodes – six weeks felt like six years.
I was crying a lot, although of course I tried to hide my upset from Connie. I just told her mummy was poorly and needed to go to hospital to get better.
The results showed the melanoma had spread to my lymph nodes so it was upgraded to Stage 3 and I was referred to Belfast City Hospital’s Cancer Centre for MRI and CT scans to check it hadn’t spread anywhere else, which thankfully it hadn’t.
Katie is now cancer-free (Picture: Katie McVeigh)
That’s when it really began to sink in that I had cancer. People think if they get a bad mole it will just be removed and that’s that, but melanoma means cancer.
My family and friends were a huge support, and also helped keep Connie occupied and entertained.
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This month, I’ve come to the end of a year of targeted immunotherapy treatment, and I’m now cancer-free.
But it isn’t over – I’ll now have five years of monitoring scans every six months, to make sure the cancer doesn’t come back.
They will also do mole-mapping – it’s where I have to stand in my underwear and every single mole on my body is measured and photographed. They can then track any changes every time they check my moles.
My mum and other family members have stopped using sunbeds now. A lot of my friends have stopped too, but not all – people still think it won’t happen to them.
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Katie’s biggest fear now is not being around to see Connie grow up (Picture: Katie McVeigh)
That’s what I thought until it happened to me.
It’s not just sunbeds – getting sunburnt is another risk factor for developing skin cancer, and I remember getting burnt on family holidays as a child.
One year, as a 10-year-old, in Egypt was particularly bad – I remember my shoulders were so blistered that my mum applied Greek yoghurt from the hotel bar to cool our skin.
We always think our sunburns are just something we need to quickly recover from, and never consider the long-term effects.
And now, my biggest fear now is not being around to see Connie grow up.
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I’m a mum and she needs me. I’ve seen other people my age, with the same diagnosis, tragically pass away.
This is very real and skin cancer needs to be taken more seriously – as do the claims that some unscrupulous companies are putting in front of impressionable teenagers.
If I could travel back in time I’d tell my younger self that having a tan is just not worth it, and I would tell everyone else to look at everything you have – and not be tempted to play Russian roulette with your life.
As told to Jade Beecroft
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This article was originally published on February 11, 2026.
EDITORS NOTE: PIC BLURRED TO PROTECT IDENTITY A police cordon at the scene of a stabbing outside apartments in the Kinnaird Avenue area of north Belfast. The Police Service of Northern Ireland (PSNI) said officers were called to Kinnaird Avenue around 10.30pm on Monday and the injured man was taken to hospital. Another man was arrested in connection with the incident and taken into custody, police confirmed. Picture date: Tuesday June 9, 2026.
The man caused around £50,000 worth of damage to the flat he was renting
An arsonist barricaded himself into his flat before setting fire to it on Christmas Day. Police officers and firefighters were called to the Whittlesey home of Eric Jordan, on December 25, 2023, after fire and smoke were spotted coming from the first floor flat.
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The 55-year-old, who was inside the flat at the time, blocked the downstairs entrance with a leather armchair before starting the fire in the stairwell using a bottle of barbecue lighter fluid.
The 55-year-old, of Scaldgate, Whittlesey, Peterborough, suffered serious injuries after falling from the first-floor window. He was later arrested on suspicion of arson after being treated by paramedics at the scene.
DC Chris Herring, who investigated, said that Jordan put himself, as well as his neighbours, in “serious danger”. he caused around £50,000 worth of damage. Jordan, was jailed for one year and four months on Friday, June 5, at Huntingdon Law Courts after admitting to arson.
DC Herring said in full: “Not only could the consequences of Jordan’s actions have been fatal, but he also caused around £50,000 of damage to the flat he was renting at the time.
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“A family of four, who were trying to enjoy their Christmas morning, also had to be evacuated from their nearby home for their own safety.
“The fire was deliberate and put himself, as well as his neighbours, in serious danger, so I am pleased he is now behind bars for the damage and distress he caused.”
Raducanu had looked far from her best in her past two matches following illness but, 16 days after her first-round exit at Roland Garros, the Briton made afresh on Andy Murray Arena.
The 2021 US Open champion held a commanding 3-0 lead before rain halted play – but that would not disrupt her rhythm.
She captured the first set without reply after just 20 minutes on court, winning 25 of the 31 points played – hitting 11 winners and just two unforced errors.
Raducanu maintained that excellent level to begin the second set with a break of serve – although she would not have it entirely her own way.
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A Queen’s quarter-finalist last year, Raducanu was hampered by double-faults as she allowed Blinkova back in – with four successive breaks of serve tying the set at three games apiece.
However, Raducanu broke again, courtesy of a fortuitous net cord, to set up the chance to serve out the match, and she wore a beaming smile in the sunshine as a closing backhand winner down the line on her second match point was met by huge cheers.
Writing ‘back home’ with a heart on a TV camera lens before exiting the court, Raducanu will return to face either Romanian Sorana Cirstea or Australia’s Maddison Inglis in the second round.
“As e-bike usage in Westminster continues to grow, working with Cllr Swaddle and his team on a collective approach on a localised, ward level will enable us to tackle hotspot areas, deliver parking bays and ensure that our service works for everyone in Westminster, whether they are a cyclist or not.
Inspectors from the care scrutiny body visited Fullarton Care Home in Ayr Road, in May with their findings now published.
Officers at the Care Inspectorate have seen improvements to an Irvine nursing home, according to a fresh report.
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Inspectors from the care scrutiny body visited Fullarton Care Home in Ayr Road, in May with their findings now published.
The visit to the service was said to be an “unannounced follow up inspection.”
It looked at the progress made by the service in responding to requirements made “as a result of a complaint investigation.”
During a previous inspection the Care Inspectorate raised concerns over respect for people’s “dignity and human rights.”
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Another concern related to the approach to supporting people’s skin care needs, which according to the previous report, needed to be “improved.”
A review of the inventory system relating to people’s clothing and personal property was also another requirement made by inspectors.
Among the key messages from the latest inspection the Care Inspectorate said the service had made “good progress” in developing systems of audit to ensure “effective oversight” and management of people’s skin care and prescribed creams.
And improvements to the management of people’s personal clothing and property “had been made.”
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Fullarton Care Home is registered to provide a care home service to a maximum of 90 older people. The provider is HC-One Oval Limited.
The Care Inspectorate report revealed that staff training records showed that e-learning training on ‘Dignity – the one who matters’ had been provided to staff “across all departments in the service.”
And the manager reviewed the service approach to how people’s personal property was managed, and staff were provided with “additional guidance” on completing inventory records.
The report continues: “A reminder regarding the completion of clothing and property inventories was shared at the relatives’ meeting, with the minutes circulated by email and displayed throughout the home.
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“In addition, the manager has developed a suggested clothing list for people seeking admission to the service. This supports effective planning by helping to ensure people have an adequate supply of clothing and enables families to maintain an ongoing record of items provided.”
The report adds: “Overall, we were satisfied that the service had strengthened its systems for managing people’s personal clothing and property, and that effective steps had been taken to ensure staff followed good practice in relation to accountability, record keeping and promoting people’s dignity.”
GP and TV doctor Dr Amir Khan is urging women in their 40s and 50s not to ignore a lesser-known symptom
Women born between 1966 and 1981 are being advised to pay attention to a lesser-known symptom that may be associated with menopause and perimenopause. In a video posted to his Instagram followers on Monday, television GP Dr Amir Khan drew attention to the link between menopause and frozen shoulder, warning that numerous women might wrongly attribute the symptoms to the ageing process.
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Frozen shoulder develops when the capsule surrounding the shoulder joint becomes inflamed and constricted, resulting in pain, stiffness and a progressive reduction in mobility. While the condition has been well-documented by medical professionals, Dr Khan noted that experts are now exploring the potential role hormones might have in causing it.
In the video, he stated: “Did you know that frozen shoulder is much more common in women during perimenopause and menopause? We used to think it was just bad luck, but now we’re realising hormones may play a much bigger role than we once thought.”
Dr Amir revealed that frozen shoulder occurs most frequently in women aged 45 to 60. A prominent theory focuses on declining oestrogen levels, which possesses anti-inflammatory qualities and supports healthy connective tissues, including tendons, ligaments and joint capsules. As oestrogen levels shift and drop during the menopause, researchers believe the shoulder capsule may become increasingly susceptible to inflammation and the build-up of scar tissue, potentially triggering the pain and stiffness associated with the condition.
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Dr Amir explained that scientists are still working to understand why the shoulder seems particularly prone to this. He pointed out, however, that the joint has the greatest range of motion in the entire body and depends on a delicate capsule to function correctly, which could make it more vulnerable to such changes.
The NHS states that frozen shoulder develops slowly and can result in pain and stiffness lasting several months or even years. It is most prevalent in those aged between 40 and 60, with women more likely to be affected than men.
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Studies have also identified a connection between frozen shoulder and diabetes. Diabetes UK reports that people living with diabetes are up to five times more likely to develop the condition compared to those without the disease.
Despite the significant discomfort it can cause, Dr Amir urged women not to simply accept deteriorating shoulder pain as an inevitable part of growing older.
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“The most important thing is that if you’re in your 40s or 50s and develop shoulder pain that’s gradually getting stiffer rather than better, don’t just put up with it,” he said. “Don’t say it’s just down to ageing. It could be frozen shoulder and getting the right diagnosis early can help you access the treatments and exercises that may improve your symptoms.”
The NHS recommends that anyone suffering from ongoing shoulder pain, stiffness or restricted arm movement should seek medical guidance, particularly if these symptoms are starting to impact their day-to-day life.
SIDON, Lebanon (AP) — Christian religious leaders from Lebanon’s southern port city of Tyre called on the international community and Lebanese officials on Tuesday to act quickly to prevent Israel from attacking the Christian district of the city, as airstrikes on nearby neighborhoods killed eight people and wounded dozens of others.
The Israeli military has issued an evacuation warning for the port city, including the Christian quarter, which has been spared so far.
The statement by the Christian leaders was from George Iskandar, the metropolitan archbishop of Tyre for the Melkite Greek Catholic Church; Elias Kfoury, the Greek Orthodox metropolitan of Tyre, Sidon and Dependencies; and Charbel Abdullah, the archeparch of the Maronite Catholic Archeparchy of Tyre.
The warning from Israel’s military prompted hundreds of people to flee the Christian district along the Mediterranean coast, while members of the Civil Defense evacuated older people to safer areas, the state-run National News Agency said.
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Cars packed with mattresses, luggage and household belongings stretched for kilometers along Lebanon’s coastal highway, as residents fled Tyre following the latest Israeli warning. Traffic ground to a halt as families crammed whatever they could into vehicles, with carpets protruding from rooftops, and trunks were left partially open to accommodate furniture and personal belongings.
“After the warnings in Tyre, we left. We picked up and left,” said Ali Bahar, who was traveling with his wife and three children in a car loaded with possessions.
“Where should we go? There is nowhere to go,” Bahar said. “We will end up in the streets. We are heading to Sidon.”
Nearby, Hussein Darwish sat in the gridlock after packing his vehicle with what he could carry.
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“We left to be reassured and safe,” he said.
An Israeli airstrike Tuesday in another neighborhood in Tyre killed eight people and wounded 32 others, according to the Health Ministry.
The three Christian leaders called on the international community and Lebanese leaders to “take immediate and serious action to spare the old quarter of Tyre from destruction and human tragedies.”
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The Israeli warning to Tyre came after Israel and Iran traded fire following Israel’s targeting of Hezbollah in Beirut on Sunday, triggering heightened tensions in the Middle East and fears that the conflict could spread further.
Over the past few weeks, Israel’s airstrikes have caused wide destruction in Tyre, the fourth-largest city in the country.
Considered one of the oldest metropolises of the world, Tyre has several archaeological sites, some of them submerged. The city was officially declared a UNESCO World Heritage Site in 1984.
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“The old city is not merely a residential area,” the clergy said in their statement. “It is the historical and human heart of Tyre, home to thousands of civilians, including families, children, and the elderly.”
They said that the old quarter also holds a rich cultural, religious and civilizational heritage dating back centuries.
“Any targeting or destruction of this neighborhood would constitute a humanitarian and national catastrophe with irreversible consequences,” they warned.
Kfoury said that the ongoing conflict isn’t only a war on Hezbollah.
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“The war is against all of Lebanon, not just one particular group within Lebanon,” he said.
“They are destroying Lebanon. Period,” Kfoury said about the ongoing Israel-Hezbollah war that broke out on March 2, when Hezbollah fired rockets at northern Israel, two days after the U.S. and Iran began attacking Iran on Feb. 28.
He said that the fighting should stop because it’s a “destructive war.”
Last week, Israel warned the Christian neighborhoods in Tyre that Hezbollah members were among them. Many Lebanese Shiite Muslims fled to those areas over the past two weeks, because they were spared from the aerial bombardment along the Mediterranean coast.
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After last week’s warning, the Lebanese army deployed to the Christian district of Tyre in an effort to prevent Israeli attacks there and to show that Hezbollah has no armed presence in the area.
On Tuesday, the Israeli military’s Arabic-language spokesperson, Avichay Adraee, posted on X that as the military warned days ago that Hezbollah members were working inside the Christian district, the Israeli military “will have to act against their terrorist activities in the neighborhood soon.”
Adraee said that any building used by Hezbollah for military purposes “may be subject to targeting.”
The much-loved character will be part of the CBeebies House Party Live tour, arriving at the Stockton Globe on Sunday, August 9.
Appearing on selected dates of the tour, Mr Tumble will help deliver a show packed with songs, surprises and audience participation.
Mr Tumble will visit Stockton Globe as part of the CBeebies House Party Live tour, promising music, laughter and family fun for audiences (Image: Supplied)
Mr Tumble said: “Hello! It’s me, Mr Tumble! I’ve heard you need my help at the CBeebies House Party LIVE! I’m in charge of the party food!
“What could possibly go wrong?!? “It will be the party of all parties and you’re all invited!
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“See you there! “Woo Hoo!”
Created and played by BAFTA award-winning Justin Fletcher MBE, Mr Tumble is best known for Something Special, which uses Makaton signs, speech and symbols to help children communicate and build language skills.
The CBeebies House Party Live tour promises music, laughter and “mega moments” for young children and families, with appearances from a rotating cast of CBeebies stars including Andy Day, Mister Maker (Phil Gallagher), George Webster, Evie Pickerill, Nigel Clarke, Rebecca Keatley, Rhys Stephenson, Joanna Adeyinka-Burford, Dodge (Warrick Brownlow-Pike), and Duggee.
British Sign Language interpreter Emma Jane Heap will be part of every performance, ensuring the fun is inclusive for all attendees.
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The show has been described as “Glastonbury for kids” by the Manchester Evening News and a show “bursting with colour, music, laughter and a whole lot of love” by the Reviews Hub.
Written and directed by Justin Fletcher, the show has been specially created for young children and their families to enjoy together.
Produced by the team behind CBeebies House and CBeebies Bedtime Stories, the stage version promises a festival of fun from start to finish.
Audiences can look forward to dancing, singing, streamers, giant jellies, bubbles and more—and, of course, a CBeebies Bedtime Story.
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Stockton is one of several stops on the tour, including stops in Aberdeen, Derby, Hull, London, and York.
The tour is produced by the same team behind the much-loved CBeebies House and CBeebies Bedtime Stories, promising the same charm and entertainment that has made those shows so popular with young audiences.
At this time of year grass can shoot up quickly, but wet weather can limit the chances in which to cut it
As lawns across the UK surge into growth after some wet weather following the heatwave at the end of May, experts say Google searches for “cutting grass after rain” have jumped 250% this week. But while many homeowners will be eager to get mowing, experts are urging caution, sharing four essential dos and don’ts to help protect your lawn from damage.
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Nick Ee, product training manager at home improvement specialists BLACK+DECKER, said: “It’s important to take precautions when mowing lawns after wet weather as damp grass tends to tear rather than being cleanly cut, causing jagged edges that leaves lawns more susceptible to pests and diseases. Not only that, but the grass clippings often clump together suffocating the grass beneath and creating an uneven finish.”
The dos and don’ts to follow when mowing lawns after rain
Check the lawn is dry enough before mowing
Nick said: “One of the biggest mistakes homeowners make after periods of heavy rainfall is assuming a dry morning means the lawn is ready to mow. While the surface may look dry, the grass and soil underneath can still be holding a significant amount of moisture, particularly in gardens with poor drainage or compacted soil.
“Before mowing, I’d recommend walking across the lawn and checking whether your shoes pick up moisture or leave visible footprints behind. You can also brush your hand through the grass blades. If your hand comes away damp, it’s a sign the lawn needs more time to dry out.
“Mowing wet grass doesn’t just affect the appearance of your lawn, the damp clippings can also clog up the mower deck, put extra strain on the motor and dull the blades more quickly. Waiting until both the grass and the ground have properly dried will give you a cleaner cut, a healthier lawn and help protect your mower from unnecessary wear and tear.”
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Raise the cutting height
Nick added: “After weeks of wet weather, grass can grow quickly thanks to the combination of moisture and warmer temperatures. While it may be tempting to cut it back to its usual height straight away, lowering the mower too much can put unnecessary stress on the lawn and leave it looking patchy.
“I recommend raising the mower height by one or two settings and avoiding the temptation to remove too much growth in a single cut.
“As a general rule, never remove more than a third of the grass blade at once. Taking a gradual approach will help the lawn recover more effectively, encourage stronger roots and leave you with a healthier, more even finish.”
Clear debris before you start
Nick said: “Before reaching for the lawnmower, it’s worth taking a few minutes to clear the lawn of fallen twigs, leaves and other garden debris that have been blown around by the wind and rain. If left this debris can interfere with the quality of the cut and potentially damage the lawnmower.
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“Running over sticks, stones and larger debris in particular can dull the mower blades, block the deck and put unnecessary strain on the motor.”
Avoid mulching wet grass
Nick said: “Mulching can be a great way to return nutrients back into your lawn, but it’s something I’d recommend avoiding after heavy rainfall. This is because the clippings are more likely to clump together when the grass is still damp rather than disperse evenly across the lawn.
“These wet clumps can block sunlight and airflow from reaching the grass underneath, potentially leading to patchy growth and an untidy finish. Instead, it’s better to collect the clippings, which helps to keep the lawn healthy while reducing the risk of blockages in your lawnmower.”
US economic growth is picking up again after a slowdown towards the end of 2025. According to price data released on May 28, US GDP grew by 1.6% year-on-year in the first quarter of 2026. This is despite energy prices rising and consumer confidence falling since the US president, Donald Trump, went to war with Iran in February.
Confronted by higher prices for gasoline and a range of other everyday products, US households are spending more in total, rather than cutting back on their purchases. This defies the many economic forecasters who expected that paying more for the basics would discourage consumers from spending money on less essential items, holding back expenditure and GDP growth overall.
Kevin Hassett, the director of the US National Economic Council, has hailed the rise in consumer spending – and the associated surge in borrowing – as signs of an economic boom. It seems hard to argue that people are better off if they are having to pay more for the same goods and services as before, and are taking on more short-term debt to fund the extra spending.
Hassett is statistically correct, however. If people pay more for everything, and the higher prices are not entirely matched by extra cost for producers, more value is being created in the economy and GDP will rise in real terms. To the extent that higher bills are affordable to consumers and generate more profit for producers, the cost of living crisis may actually be promoting GDP growth in the US.
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US GDP growth picked up to 1.6% in the first quarter of 2026 after a slowdown at the end of 2025. US Bureau of Economic Analysis
This contradicts the conventional economic opinion that views inflation as harmful to economic growth. But growth can happen under these conditions when consumers cannot or will not switch away from goods or services whose price rises faster than average.
This effect has long been visible in performing arts and other creative industries. These industries depend on individuals who, even with technical help, are unable to keep producing more in a day without losing quality.
While audiences often complain about the ever-rising cost of tickets for live music or sport, these events still sell out. So long as audiences keep paying, the real output of these industries keeps growing, even if there is no increase in the number of matches or concerts played.
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Uneven growth
There are other reasons why recent GDP growth has not made the average US household feel better off, or revived the fortunes of Trump and his governing Republican party. Polling by the Economist suggests that 58% of Americans currently disapprove of Trump. This makes him the most unpopular US president since 2009, when Barack Obama was grappling with intense public anxiety over the global financial crisis, despite the uptick in growth.
GDP is a measure of total economic output. It is calculated by adding up the sum of all final incomes earned within a country’s borders, including wages, profits and taxes on imports. The calculation does not account for how much – or how little – individuals receive.
Much of the recent gain in the US has flowed to people already high up the income and wealth scale, shifting the distribution of GDP from wages towards profits. Expectation of a continued profit boom is one reason stock markets have continued to rise despite Trump’s tariff regime and wars, as well as other global turbulence since 2021.
A trader works on the New York Stock Exchange floor on May 8. Sarah Yenesel / EPA
At present, US growth is fragile. This is because of its reliance on borrowed money to fuel consumer spending. Household debt in the US was already at levels that trouble some economists before the latest cost-of-living squeeze. Total US household debt is greater now than when it reached crisis proportions in 2008, tipping the US and the world into recession.
US company debt is also higher now than in 2020, when the COVID pandemic began, though it has been declining since 2021 as firms have used recent profits to pay it down. There are fears that companies’ debt-to-income ratio may be higher than officially measured, due to a recent sharp rise in private credit. This form of debt is not monitored or regulated as heavily as debt from traditional sources.
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The situation for indebted households and firms will improve if interest rates fall, as Trump has demanded from his newly nominated Federal Reserve chair, Kevin Warsh. But financial markets are anticipating the opposite, as higher prices and government borrowing generate inflation that typically pushes interest rates up.
This leaves it doubtful that the bright start to US growth in 2026 can last through the rest of the year. Any rises in borrowing costs or a fall in stock markets would begin to squeeze consumer spending and business investment, even if the high oil prices have subsided by then.
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