The British economy failed to grow in April in a blow to Prime Minister Rishi Sunak who has made the return of growth a central pillar of the Conservative Party’s election campaign
Britain's Prime Minister and Conservative Party leader Rishi Sunak reacts during a visit of University Technical College in Silverstone, England, on Tuesday June 11, 2024, in the build-up to the UK general election on July 4. The British economy failed to grow in April, official figures showed Wednesday, in a blow to Prime Minister Rishi Sunak who has made the return of growth and a generally calmer economic backdrop a central pillar of the Conservative Party's election campaign.
While Treasury chief Jeremy Hunt insisted the “economy is turning a corner,” his opposite number in the Labour Party Rachel Reeves said the “economy has stalled.” Hopes within the Conservative Party that the bank would lower its main interest rate from the 16-year high of 5.25% have diminished after inflation failed to fall as much as hoped in April. Though inflation is down at an annual rate of 2.3%, it remains slightly above the bank's target and is expected to tick up slightly in coming months.
Elections Conservatism World News General News Business Article 111048551
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why did British PM Rishi Sunak call an election with Conservatives facing defeat to Labour?Alexander Smith is a senior reporter for NBC News Digital based in London.
Read more »
British military horses injured while running through London in April 'recovering with remarkable speed'The five military horses that bolted and injured themselves as they ran loose through central London in April are expected to return to duty, with three of them already back to work.
Read more »
British retail sales plunge 2.3% in April, missing estimatesU.K. retail sales volumes dropped 2.3% in April as wet weather deterred shoppers, the Office for National Statistics said Friday.
Read more »
'Jane Fonda Day' in LA to be moved after backlash'Jane Fonda Day' will be moved to April 8 from the previously proclaimed date of April 30 after backlash from critics and Vietnamese Americans angry over the overlap with Black April.
Read more »
French far right seeks alliance with conservatives after stunning EU Parliament winsFrance's hard-right National Rally party took to the campaign trail Tuesday following a resounding victory in the European Parliament election.
Read more »
French politics in turmoil as conservatives join forces with far-rightEric Ciotti, leader of right-wing Republicans party, ignites firestorm by endorsing alliance with Marine Le Pen's far-right National Rally for snap elections called by President Emmanuel Macron.
Read more »