UK Economy contracts for second month amid Tory criticism
Video Credit: ODN - Duration: 00:58s - Published
UK Economy contracts for second month amid Tory criticism
The UK economy shrank for a second consecutive month in October, marking the first back-to-back decline since the pandemic.
Shadow Chancellor Mel Stride criticised the government, claiming it inherited a fast-growing economy but is now "talking down" the UK, causing higher taxes, inflation, and unemployment.
Stride warned businesses are "sounding the alarm" due to the government's "doom and gloom" economic narrative.
Report by Covellm.
Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Shadow Chancellor Mel Stride has called for Prime Minister Starmer to sack Treasury minister Tulip Siddiq, arguing it is âimpossibleâ for her to continue as anti-corruption minister while facing allegations linked to her auntâs political movement in Bangladesh. Stride said, âIf youâre in a Ministerial position, you have to be in a position to actually conduct the responsibilities for which youâre responsible, and I just donât think in her case that that is any longer possible.â Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Shadow Chancellor has described the ceasefire between Israel and Hezbollah as "very encouraging" and "very good news." He emphasised the need for the release of hostages in Gaza, which Mel Stride stated should now be a key priority. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The shadow chancellor has said the rise in inflation to 2.8% is "worrying." UK inflation has risen to its highest level since April driven by an increase in household energy bills, according to official figures.
Mel Stride said a key componenent to the increase has been energy bills. "The winter fuel payment has been removed for a lot of pensioners including the most vulnerable so I think a lot of people will be worried about this," Mr Stride said.
Report by Kennedyl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Mel Stride blamed GDP figures showing growth slowed between July and September on the Labour government âtalking down of the economyâ. UK economic growth slowed between July and September relative to the previous quarter, according to official data, in a blow to Chancellor Rachel Reeves. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The Prime Minister will act on the findings of an independent investigation into Treasury minister Tulip Siddiq, Cabinet minister Peter Kyle has said. Following reports that she lived in properties in London linked to allies of her aunt, former Bangladesh prime minister Sheikh Hasina, Ms Siddiq referred herself to the independent adviser on ministerial standards Sir Laurie Magnus on Monday. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Nigel Farage has renewed calls for a national inquiry into grooming gangs, criticising the Jay Review as inadequate. Speaking at Reform UKâs North West conference, he claimed a targeted investigation was needed into what he described as âdeeply racistâ crimes. Farage said grooming gangs, âpredominantly of Pakistani origin,â targeted white working-class girls and that understanding the scale and motives of these crimes was crucial to stopping them. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Nigel Farage has said that he is âthoughtfulâ when asked if the UK should consider bringing back Shamima Begum. The Reform UK leader said that âinstinctivelyâ it is not something he would want to do but he is ânow thoughtfulâ about the matter. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves vowed to stand by her ânon-negotiableâ fiscal rules, as her mission to China was overshadowed by further turbulence in the gilt markets. Visiting bicycle-maker Bromptonâs flagship Beijing store on Saturday, the Chancellor declined to give a running commentary on the financial markets in the UK, but said the rules she set for herself in October were essential for economic stability. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
![Stride: Siddiq must go over corruption allegations [Video]](https://video.newsserve.net/300/v/20250112/1398556866-Stride-Siddiq-must-go-over-corruption-allegations.jpg)
![Mel Stride: Israel ceasefire is 'very encouraging' [Video]](https://video.newsserve.net/300/v/20241127/1394559820-Mel-Stride-Israel-ceasefire-is-very-encouraging.jpg)
![Mel Stride says inflation figures are 'worrying' [Video]](https://video.newsserve.net/300/v/20241120/1393922094-Mel-Stride-says-inflation-figures-are-worrying.jpg)
![Stride: GDP figures are 'very weak and worrying' [Video]](https://video.newsserve.net/300/v/20241115/1393471274-Stride-GDP-figures-are-very-weak-and-worrying.jpg)
![PM to act on findings of investigation into Siddiq [Video]](https://video.newsserve.net/300/v/20250112/1398556964-PM-to-act-on-findings-of-investigation-into.jpg)
![Farage calls for inquiry into grooming gangs at conference [Video]](https://video.newsserve.net/300/v/20250111/1398481858-Farage-calls-for-inquiry-into-grooming-gangs-at.jpg)
![Farage âthoughtfulâ on UK bringing back Shamima Begum [Video]](https://video.newsserve.net/300/v/20250111/1398470818-Farage-thoughtful-on-UK-bringing-back-Shamima-Begum.jpg)
![Reeves defends fiscal rules during China visit [Video]](https://video.newsserve.net/300/v/20250111/1398448404-Reeves-defends-fiscal-rules-during-China-visit.jpg)
