Labour says Sunak’s pledge to grow the economy is ‘in tatters’

Labour mentioned Rishi Sunak’s pledge to grow the economy was “in tatters” after official statistics revealed the UK economy slipped right into a recession at the finish of 2023. 

Data printed by the Office for National Statistics this morning confirmed gross home product fell by 0.3 per cent in the fourth quarter of final yr, following a 0.1 per cent contraction in the third quarter. 

The affirmation of a recession represents a set again for Rishi Sunak as his political opponents pounced on the promise he made in January 2023 to “grow the economy”. 

Rachel Reeves, the shadow chancellor, mentioned: “Rishi Sunak’s promise to grow the economy is now in tatters. The Prime Minister can now not credibly declare that his plan is working or that he has turned the nook on greater than fourteen years of financial decline beneath the Conservatives that has left Britain worse off. 

“This is Rishi Sunak’s recession and the information will probably be deeply worrying for households and enterprise throughout Britain.”

Jeremy Hunt, the Chancellor, mentioned it was “not a surprise” to see low progress “while interest rates are high” however he insisted “there are signs the British economy is turning a corner”. 

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