Chancellor: GDP figures are testament to economy resilience
Video Credit: ODN - Duration: 01:11s - Published
Chancellor: GDP figures are testament to economy resilience
Chancellor Jeremy Hunt says the latest GDP figures that show that 2023’s recession was slightly weaker than originally thought are a “testament to the resilience of the economy”.
Figures released by the Office for National Statistic revealed the economy shrunk for two quarters in a row, but the total contraction over that six-month period dropped from 0.5% to 0.4%.
Report by Blairm.
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Jeremy Hunt has accused Labour of lying over the "£22bn" budget black hole it claims to have inherited. The shadow chancellor, who was speaking at the Conservative conference in Birmingham, claimed the £22 billion “black hole” could turn out to be a £39 billion surplus. Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
UK inflation has risen to its highest level since April driven by an increase in household energy bills, according to official figures.
The Office for National Statistics (ONS) said Consumer Prices Index (CPI) inflation rose to 2.3% for October, up from 1.7% in the previous month. Shadow Chief Secretary to the Treasury Darren Jones said there was “more to do” to ease cost-of-living pressure.
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Angela Rayner has paid tribute to former deputy prime minister John Prescott following his death aged 86 following a battle with Alzheimer's. The deputy prime minister described Mr Prescott as "an incredible figure in politics" and revealed he would often ring her after PMQs to offer words of encouragement.
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Prime minister Sir Keir Starmer welcomed the President of Indonesia Prabowo Subianto to 10 Downing Street on Thursday. Mr Subianto, who was inaugurated last month, met the prime minister earlier this week at the G20 leaders’ summit in Brazil.
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Gordon Brown has paid tribute to former deputy prime minister John Prescott following his death aged 86 following a battle with Alzheimer's. The former prime minister credited Mr Prescott with transforming "our view of climate change" and being the "pioneer of levelling up."
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Sir Keir Starmer said the UK must "double down" it's support for Ukraine after returning from the G20 summit in Brazil. Addressing the House of Commons on Thursday, the prime minister said it "could not be more clear" that "this is a man that wants destruction, not peace".
"After 1,000 days of war, I am clear that we must double down in our support. We will not be deterred or distracted by reckless threats," he added.
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Shadow defence secretary James Cartlidge has responded to speculation that Ukraine has fired UK-supplied Storm Shadow missiles at targets inside Russia for the first time. Mr Cartlidge said: "We do support giving Ukraine maximum autonomy because ultimately they're trying to fight for their lives - this is an act of self defence." Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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