Revised figures show no economic growth for six months
UK GDP registered zero growth in the third quarter of this year, worse than the original estimate of 0.1 per cent. GDP per capita fell by 0.2 per cent, and real disposable income was flat.
The figures date to the period between July and September, mostly after Labour took power but before the Budget was delivered in late October., it would need to act to avoid further stagnation which would harm the public finances as well as squeezing living standards. Michael Saunders of Oxford Economics called for “a proper plan for growth”, warning that the Budget “did not do much to boost growth either near term or long term”.
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