Only Way Is Up! Britain's Economy Speeds Ahead

Rishi: Figures show our economy is on the mend

- Macer Hall

BRITAIN’S economy is storming ahead of rival nations, boosting hopes of a strong post-Covid revival.

The relaxation of rules in shops, pubs and restaurants helped drive a 4.8 per cent bounce from April to June – beating the US, Germany and France.

Chancellor Rishi Sunak said the official figures proved the UK was “on the mend”, adding: “With the fastest quarterly growth rate among the G7 economies we have exceeded expectations, and I’m pleased to see the UK bouncing back.”

National output (GDP) rose again in June, by another 1 per cent, although it remains 2.2 per cent below where it was before the global economic downturn that was caused by the pandemic.

Mr Sunak pointed out yesterday that Britain’s GDP has grown faster than that of any other member of the G7 group of advanced economies.

He said the figures “show that our economy is on the mend showing strong signs of recovery, thanks to our Plan for Jobs and successful vaccine programme.

“I know there are still challenges to overcome, but I feel confident in the strength of the UK economy and the resilience of the British people.

“With the fastest quarterly growth rate among the G7 economies we have exceeded expectations and I’m pleased to see the UK bouncing back.”

Data showed the UK’s 4.8 per cent growth from April to June compared with 1.6 per cent in the US, 1.5 per cent in Germany and 0.9 per cent in France. Echoing the Chancellor’s upbeat reaction, Boris Johnson described the figures as “encouraging”.

The Prime Minister said: “There will be challenges ahead, but our successful vaccination programme and Plan for Jobs combined with the strength and resilience of the British people puts the UK in a strong position as we build back better from the pandemic.”