Reeves: Fall in GDP is disappointing
Chancellor Rachel Reeves has described the most recent GDP figures as “disappointing”.
Following this morning’s information that the UK financial system contracted by 0.1% in Could, Reeves factors to the federal government’s efforts to help households financially:
“Getting more cash in individuals’s pockets is my primary mission. Whereas right now’s figures are disappointing, I’m decided to kickstart financial progress and ship on that promise.
“The alternatives we now have made in our first 12 months in authorities have seen us prolong the £3 bus fare cap, fund Free Faculty Meals for over half 1,000,000 extra kids, press forward with plans to ship free breakfast golf equipment for each little one within the nation and enhance the Nationwide Minimal and Nationwide Dwelling Wage, giving a pay rise to three million staff.
“There’s extra to do, that’s why within the Spending Evaluate we boosted funding and jobs, by way of higher metropolis area transport and file funding for reasonably priced houses, in addition to backing main initiatives like Sizewell C.”
[Reminder: economists had expected the UK economy returned to growth in May, but GDP has actually fallen by 0.1% during the month, pulled down by a fall in manufacturing output].
Share
Up to date at 03.40 EDT
Key occasions
Support Greater and Subscribe to view content
This is premium stuff. Subscribe to read the entire article.
