UK economy shrinks by more than expected in blow to Rachel Reeves ...Middle East

The economy shrank by 0.3 per cent in April in a blow to the Chancellor’s plans for growth.

Chancellor Rachel Reeves acknowledged that the figures were “clearly disappointing” but insisted her spending review would help deliver growth.

On Wednesday, Reeves delivered her first multi-year spending review as Chancellor, promising to “rebuild Britain” with long-term investment across health, housing, energy and transport.

Reeves admits GDP slump is ‘disappointing’

Good morning, and welcome to The i Paper’s live politics blog. The Chancellor Rachel Reeves has admitted new figures showing the economy contracted in April are “disappointing”.

GDP slumped by 0.3 per cent in April, the latest figures from the Office for National Statistics (ONS) shows.

Experts had expected a fall of 0.1 per cent after growth of 0.2 per cent in March.

Reeves insisted but her Sending Review, outlined on Wednesday, would help deliver growth.

The Chancellor said: “Our number one mission is delivering growth to put more money in people’s pockets through our Plan for Change, and while these numbers are clearly disappointing, I’m determined to deliver on that mission.

“In yesterday’s Spending Review we set out how we’ll deliver jobs and growth – whether that’s improving city region transport, a record investment in affordable homes or funding Sizewell C nuclear power station.

“We’re investing in Britain’s renewal to make working people better off”.

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