Kevin Schofield is Politics Editor of HuffPost UK.
Britain's Chancellor of the Exchequer Rachel Reeves speaks with the media as she arrives for a meeting of eurogroup finance ministers at the European Council building in Brussels, Monday, Dec. 9, 2024. Figures released on Friday morning by the Office for National Statistics showed gross domestic product fell by 0.1%, just as it had done in September.She said: “We are determined to deliver economic growth as higher growth means increased living standards for everyone, everywhere.
“We have put public finances back on a stable footing, capped the rate of corporation tax at the lowest level in the G7, established a £70 billion National Wealth Fund to drive growth in our towns and cities, launched a 10 year infrastructure strategy and are creating pension mega funds to boost investment in British businesses, infrastructure and clean energy.”said: “It is no wonder businesses are sounding the alarm.
“Labour were left the fastest growing economy in the G7 but because of their decisions growth is now under serious pressure. The impact will be felt by families through higher taxes, fewer jobs, higher prices and higher interest rates.”Is Rachel Reeves Paving The Way For A U-Turn On A Key Budget Pledge?
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