New quarterly National Accounts figures from the Office for National Statistics won’t make happy reading for Reeves and Starmer. Signs that the economy’s recovery is grinding to a halt keep popping up…
GDP growth in the second quarter of 2024 has now been revised down to 0.5% from 0.6%, against economists’ expectations. Economic output flatlined for the third time in four months as consumer confidence dives ahead of Reeves’ tax-raising October Budget. Meanwhile GDP growth for the whole of 2023 is revised up from 0.1% to 0.3%. This revision is another spanner in the works for Starmer’s stated mission of getting growth to 2.5%. At least it isn’t falling as fast as his popularity…
Red Wall Labour backbencher Jonathan Brash told GB News that Starmer should resign:
“I’m completely fed up about it, and I think it’s got to the point now where I genuinely think that, as far as the Prime Minister is concerned, it’s not a case of if, it’s when.”