11 h. ago Reeves ‘disappointed’ after UK economy unexpectedly shrinks for second month in a row

It followed a 0.3 per cent contraction in April, when US president Donald Trump announced tariffs

Politics

11 h. ago Rachel Reeves says GDP figures ‘are disappointing’ after UK economy shrinks for second month in a row – business live

Latest economic report shows UK GDP fell by 0.1% in May, following 0.3% fall in April.Full story: UK economy shrinks unexpectedly by 0.1% in blow to Rachel ReevesUS will impose 35% tariffs on Canadian imports, Trump says in letterChancellor Rachel Reeves has described the latest GDP figures as “disappointing”.Following this morning’s news that the UK economy contracted by 0.1% in May, Reeves points to the government’s efforts to support households financially:“Getting more money in people’s pockets is my number one mission. While today’s figures are disappointing, I am determined to kickstart economic growth and deliver on that promise.“The choices we have made in our first year in government have seen us extend the £3 bus fare cap, fund Free School Meals for over half a million more children, press ahead with plans to deliver free breakfast clubs for every child in the country and increase the National Minimum and National Living Wage, giving a pay rise to 3 million workers.“Flatli...

Economics

12 h. ago Rachel Reeves say GDP figures ‘are disappointing’ after UK economy shrinks for second month in a row – business live

Latest economic report shows UK GDP fell by 0.1% in May, following 0.3% fall in April.Full story: UK economy shrinks unexpectedly by 0.1% in blow to Rachel ReevesUS will impose 35% tariffs on Canadian imports, Trump says in letterChancellor Rachel Reeves has described the latest GDP figures as “disappointing”.Following this morning’s news that the UK economy contracted by 0.1% in May, Reeves points to the government’s efforts to support households financially:“Getting more money in people’s pockets is my number one mission. While today’s figures are disappointing, I am determined to kickstart economic growth and deliver on that promise.“The choices we have made in our first year in government have seen us extend the £3 bus fare cap, fund Free School Meals for over half a million more children, press ahead with plans to deliver free breakfast clubs for every child in the country and increase the National Minimum and National Living Wage, giving a pay rise to 3 million workers.“Flatli...

Economics

13 h. ago Rachel Reeves say GDP figures ‘are disappointing’ after UK economy shrinks for second month running – business live

UK GDP falls by 0.1% in May, following 0.3% fall in April.US will impose 35% tariffs on Canadian imports, Trump says in letterFTSE 100 hit record high on ThursdayChancellor Rachel Reeves has described the latest GDP figures as “disappointing”.Following this morning’s news that the UK economy contracted by 0.1% in May, Reeves points to the government’s efforts to support households financially:“Getting more money in people’s pockets is my number one mission. While today’s figures are disappointing, I am determined to kickstart economic growth and deliver on that promise.“The choices we have made in our first year in government have seen us extend the £3 bus fare cap, fund Free School Meals for over half a million more children, press ahead with plans to deliver free breakfast clubs for every child in the country and increase the National Minimum and National Living Wage, giving a pay rise to 3 million workers.“Flatlining growth in May highlights the ongoing pressures facing the UK ec...

Economics

14 h. ago UK economy shrinks for second month in a row after unexpected slump in May

It followed a 0.3 per cent contraction in April, when US president Donald Trump announced tariffs

Politics

14 h. ago UK economy shrinks for second month running in May – business live

UK GDP falls by 0.1% in May, following 0.3% fall in April.US will impose 35% tariffs on Canadian imports, Trump says in letterFTSE 100 hit record high on ThursdayThe pound has dropped against the US dollar, as investors react to this morning’s worse-than-expected GDP report.Sterling has lost a third of a cent to $1.354, a drop of 0.2%.“The economy contracted slightly in May with notable falls in production and construction, only partially offset by growth in services. However, across the latest three months as a whole, the economy still grew. This reflected strength earlier in the year that resulted, in part, from some activity being brought forward to February and March.“May’s fall in production was driven by oil and gas extraction, car manufacturing and the often-erratic pharmaceutical industry. Continue reading...

Economics

7 d. ago Jeremy Corbyn says ‘discussions are ongoing’ after Zarah Sultana claimed she would ‘co

Sultana announced on Thursday she was quitting Labour to join Jeremy Corbyn’s Independent AllianceMy colleague Lauren Almeida, who is running the Guardian’s business live blog, has shared the following:Rachel Reeves has not given herself enough fiscal headroom to manage public finances, Charlie Bean, the former deputy of the Bank of England has said, and has to “neurotically fine tune taxes”.About £10bn – that’s a very small number in the context of overall public spending. Government spending is about one and a quarter trillion so £10bn is a small number and it is a small number in the context of typical forecasting errors.You can’t forecast the future perfectly both because you can’t forecast the economy and you can’t forecast all the elements of public finances . The forecasts are imprecise and there is no way you can avoid that. That is a fact of life.In light of reports of atrocities committed by the Israeli government in Gaza and reports of the UK’s collaboration with Israeli ...

Politics

7 d. ago Home secretary rejects Zarah Sultana’s claim Labour failing to improve lives – UK politics live

Sultana announced on Thursday she was quitting Labour to join Jeremy Corbyn’s Independent AllianceMy colleague Lauren Almeida, who is running the Guardian’s business live blog, has shared the following:Rachel Reeves has not given herself enough fiscal headroom to manage public finances, Charlie Bean, the former deputy of the Bank of England has said, and has to “neurotically fine tune taxes”.About £10bn – that’s a very small number in the context of overall public spending. Government spending is about one and a quarter trillion so £10bn is a small number and it is a small number in the context of typical forecasting errors.You can’t forecast the future perfectly both because you can’t forecast the economy and you can’t forecast all the elements of public finances . The forecasts are imprecise and there is no way you can avoid that. That is a fact of life.In light of reports of atrocities committed by the Israeli government in Gaza and reports of the UK’s collaboration with Israeli ...

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