Fall in UK GDP puts focus back on expectations of tax rises in autumn budget - short news
Depressing data comes as Rachel Reeves and her team were daring to hope business confidence was recovering
UK economy shrinks unexpectedly in blow to Reeves
May’s unexpected 0.1% decline in GDP will make depressing reading for Rachel Reeves before a tough budget in the autumn.
Stronger-than-expected growth would have helped to alleviate the squeeze on the public finances – but there is nothing in this latest data pointing to an upturn.
Continue reading...source: The Guardian - 11.07.2025