Business

Disappointing to see UK economy shrink by 0.3% in April, says Reeves

Chancellor Rachel Reeves says she’s “disappointed” after fresh figures show the UK economy shrank by 0.3% in April

The decline, which is sharper than expected, comes the day after the chancellor pledged to boost growth in her Spending Review

This morning’s GDP figures underline “the baked in sluggishness, the flatlining, even the shrivelling of the economy,” our political editor Chris Mason writes

Reeves tells BBC Breakfast she is determined to turn around the poor growth numbers, while Conservative leader Kemi Badenoch tells the Today programme that Labour should “reform” public services

Reeves allocated extra money for the NHS, defence and housing on Wednesday, but some departments had their day-to-day budgets cut.

 

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