The UK economy experienced zero growth in the third quarter of 2023, prompting the Conservatives to demand a revision of the Labour government’s budget.
The Conservatives are saying the government should rewrite its budget in the light of today’s figures saying the UK economy had zero growth between July and September. Commenting on the figures, Mel Stride, the shadow chancellor, said: Having inherited the fastest growing economy in the G7, growth has tanked on Labour’s watch. That means greater pressure on our public finances and an economy which, far from becoming more secure, is becoming significantly more vulnerable.
The Labour government must now urgently revisit their budget and align economic policy with growth not decline. Every moment of delay is further damaging business confidence, output and employment. The warning lights are flashing. The budget was announced at the end of October, in the fourth quarter of the year, not the third quarter covered by today’s revised figures. In her statement on the figures, Rachel Reeves, the chancellor, said today’s figures highlighted the extent to which Labour inherited a difficult economic situation
UK Economy Budget Labour Party Conservatives Growth
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
As billions of dollars pour into renewables, a planning backlog stalls the rolloutThe Albanese government is spending hundreds of millions of dollars to dislodge the backlog of projects stuck in the planning system.
Read more »
CFMEU corruption case stalls after High Court challengeA corruption case against an ex-CFMEU state secretary and his son has been put on hold pending a decision on the union&x27;s High Court challenge to its Labor-imposed administration.
Read more »
As billions of dollars pour into renewables, a planning backlog stalls the rolloutThe Albanese government is spending hundreds of millions of dollars to dislodge the backlog of projects stuck in the planning system.
Read more »
As billions of dollars pour into renewables, a planning backlog stalls the rolloutThe Albanese government is spending hundreds of millions of dollars to dislodge the backlog of projects stuck in the planning system.
Read more »
Asbestos removal stalls as uninsured home owners baulk at clean-up costRural communities fear the high cost of asbestos removal puts the public at risk, as uninsured home owners fail to clean up the deadly material after house fires.
Read more »
Top five biggest political turkeys ripped by conservatives in 2024As the 2024 election season comes to a close, several prominent figures in the media and Democratic Party find themselves on the short end of the stick with disappointing performances at the ballot box.
Read more »