To be fair, I'd say that most people in the UK who would be interested in the contents of this site are aware of the context and know what phrases like "rates increases" actually mean.

It's been in the news quite a bit over the years since the pandemic.

Not every site has to provide an ELI5.

The homepage doesn't even say it's about the UK.

For a generic ".com" domain that isn't American, it's generally a good idea to yes, have a kind of minimal hint that tells you at least which country it's about, and at least a single link you can follow to get the broader context.

I'm following a link to it on HN. When I get there, I have zero context. Visitors to your site can come from anywhere, so it's generally considered a good idea to provide basic context.