Blow to Labour government: UK economy shows no growth in third quarter
India TV NewsIn what comes as a major setback for the Labour government in the UK, the Office for National Statistics in its latest revision of the July to September quarter, has said that the British economy showed no growth against the previous estimate of 0. In the third quarter, the British economy flatlined, according to downwardly revised official figures Monday. Treasury chief promises to turbocharge growth Treasury chief Rachel Reeves promised to turbocharge economic growth after Labour won the July election but has now seen the economy stall over the three months to September, while official figures earlier this month also pointed towards a 0.1% decline in October. Many economists say the budget has further damaged the British economy as many businesses are responding to the tax rise by either raising prices or reducing employees or wages.
History of this topic
Flatlining economy could force Rachel Reeves to break her pledge and come back with ANOTHER tax raid, experts warn
Daily Mail
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The IndependentBritish economy flatlines in 3rd quarter in another blow to new Labour government
Associated Press
British economy flatlines in 3rd quarter in another blow to new Labour government
The Independent
Why did the UK economy slow in the third quarter, and what does it mean?
The IndependentUK Treasury chief says she’s not satisfied by paltry third-quarter economic growth
Associated Press
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The Independent
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Al Jazeera
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The Independent
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