Posted on 12/23/2024 10:20:58 AM PST by RandFan
The UK economy had zero growth between July and September, revised official figures show.
The revised data comes after a series of disappointing figures including inflation rising at its fastest pace for eight months and the economy unexpectedly shrinking in October.
One of the UK's leading business groups, the CBI, said its latest company survey suggested "the economy is headed for the worst of all worlds".
Chancellor Rachel Reeves said the challenge to fix the economy "after 15 years of neglect is huge", while shadow chancellor Mel Stride said Monday's figures showed "growth has tanked on Labour's watch".
The revised figure will be a blow to the government which has made boosting the economy its top priority.
Labour has promised to deliver the highest sustained economic growth in the G7 group of the world's richest nations.
Businesses have already warned that measures announced in October's Budget including a rise in employer national insurance contributions (NICs) and a higher minimum wage could push them into cutting jobs and raising prices.
These Budget changes come into effect in April
(Excerpt) Read more at bbc.co.uk ...
They voted for this. Elections have consequences.
The UK didn’t just start to falter. It started after WWII and has gotten worse since. Socialism is an uncurable disease. It will kill the host every time. The death can be put off, but those that leach off the makers will always go back to their socialist voting when they are given more from their sponsors.
Sounds to me like they achieved “net zero”!
How is this happening? Communism has a fantastic record of delivering prosperity and economic growth. /sarc
It’s not called Dumbocracy for nothing
Entitlement programs kill Nations.
But the experts say the cultural enrichers would make the economy grow by their diligent labor.
The experts can’t be wrong.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.