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01.12 - 11:39
Sharp slowdown in UK growth lends Sunak’s plan a hollow ring
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Growth is up, said Rishi Sunak in his budget speech last month, but the figures for the third-quarter show this claim is no longer true.
The rise in national income, or GDP, of 1.3% in the three months to September was down from 5.5% in the previous quarter. It meant the recovery from the worst slump in 300 years slowed over the summer and in a troubling development, is now on a much lower trajectory.
It must worry the chancellor, less than a month on from his upbeat declarations in the budget, that the pace of growth has slowed dramatically and that one of his other measures of success, namely how well the country is doing in relation to its G7 counterparts, puts the UK at the bottom of the league.
All the major economies have recovered more
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