Reeves 'disappointed' by UK economy unexpectedly shrinking
Video Credit: ODN - Duration: 00:47s - Published
Reeves 'disappointed' by UK economy unexpectedly shrinking
The UK economy unexpectedly contracted in October, marking two months in a row of negative growth for the first time since the pandemic, new figures show.
Chancellor Rachel Reeves said she was “disappointed” by the data after a weak month for pubs and restaurants dragged on growth amid some uncertainty ahead of the autumn Budget.
The chief secretary to the Treasury has hailed an unexpected dip in inflation, but admits that the cost of living "is still a pressure for families across the country and there's more work to do". Darren Jones adds the latest Office for National Statistics figures, "shows that the prime minister's plan for change is working". Inflation has fallen to 2.5% in December from 2.6% in November, which will come as a relief to Chancellor Rachel Reeves, who has faced criticism given rising government borrowing costs and a slump in the value of the pound. The latest figures could open the door for an interest rate cut next month. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
A fall in December's CPI inflation of 0.1 percentage points to 2.5% is marginal, but by being below expectations it delivered an above-expectations boost to.. Sky News
Rachel Reeves has defended her decision to visit China over the weekend and accuses the Conservatives of "not wanting to engage with the second largest economy in the world". The chancellor adds that to grow the UK economy "we need to help great British business export around the world" and that not engaging with China "is simply not an option". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chancellor Rachel Reeves has been accused of refusing to "face up to her own failures" by "jetting off to Beijing" during a week of market turmoil. Sky News
The shadow financial secretary to the Treasury has called on Chancellor Rachel Reeves to "urgently get a grip" on the economy amid the current financial market turmoil. Gareth Davies adds high interest rates and mortgate payments "will be hurting people across the country. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Prime Minister Sir Keir Starmer has met his Malaysian counterpart Anwar Ibrahim at Downing Street for bilateral talks. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
John Swinney has targeted eradicating child poverty in Scotland and ensuring that wealth is "shared more equally amongst us". The Scottish first minister adds, "if we prioritise it, if we make it our goal, then together we can make real progress towards achieving it". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Sir Keir Starmer says the government has an "iron-clad commitment to our fiscal rules", after inflation dipped to 2.5% in December. The prime minister's comments at PMQs come after Conservative Party Leader Kemi Badenoch claimed business leaders are suffering from Labour's Autumn Budget. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Sir Keir Starmer has defended Tulip Siddiq after the former Treasury minister resigned from government over an anti-corruption investigation into her wider family in Bangladesh. The prime minister told Kemi Badenoch in PMQs, "the former minister fully cooperated" with independent advisors looking into the matter. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Prime Minister Sir Keir Starmer has arrived at the Houses of Parliament for PMQs, where he is likely to face questions on Tulip Siddiq's resignation as Treasury minister and the economy, after the latest ONS figures show inflation dipped to 2.5% in December. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chief Secretary to the Treasury Darren Jones says the Labour government is still committed to stimulating economic growth despite figures from the Office of National Statistics showing the economy recorded no growth in the third quarter of this year. Report by Etemadil. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Figures released by the Office for National Statistics (ONS) on Thursday put net migration at more than 900,000 in the year to June 2023, numbers Starmer blamed on the previous Conservative government.
Credit: euronews (in English) Duration: 01:32Published
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.
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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