Tag: GDP

Better news on growth, but still not good enough

The latest GDP data should ease fears that the UK economy is sliding back into recession. But growth is still too weak to fix the public finances, or encourage hiring and investment, and there are already signs that any positive momentum is fading again. First, though, the good news. GDP grew by 0.3% in the … Continue reading Better news on growth, but still not good enough →

Labour’s first year report – ‘tries hard, but results still poor’

One year on, the Labour government elected in July 2024 is claiming three big wins on the economy. Unfortunately, these are little to shout about. The first is the large increases in the National Minimum Wage (NMW). This simply maintained the last government's policy of raising the full NMW to two-thirds of median earnings and extending it … Continue reading Labour’s first year report – ‘tries hard, but results still poor’ →

The UK economy’s strong start to the year was a flash in the pan (reprise)

On Monday the Office for National Statistics (ONS) confirmed that the UK economy grew by 0.7% in the first quarter of the year, as measured by Gross Domestic Product (GDP). That may sound impressive and was certainly better than most had expected a few months earlier. But unfortunately, it was as good as it gets. … Continue reading The UK economy’s strong start to the year was a flash in the pan (reprise) →