Rishi's recession: Labour blast as PM fails on pledge
Evening Standard|February 15, 2024
Experts divided at Britain’s first proper slump since the financial crisis of 2008
Jonathan Prynn and Nicholas Cecil
Rishi's recession: Labour blast as PM fails on pledge

THE economy slumped into recession last year dealing a hammer blow to Rishi Sunak’s growth pledge, official figures showed today.

The Office for National Statistics said GDP fell by a worse than expected 0.3 per cent in the last three months of 2023. That followed a 0.1 per cent dip in the third quarter. Economists define a recession as two consecutive quarters of negative growth. Labour and the Liberal Democrats immediately sought to tie the Prime Minister to the downturn hitting Britain, branding it “Rishi’s recession”. But Chancellor Jeremy Hunt stated: “There are signs the British economy is turning a corner.”

Shadow chancellor Rachel Reeves responded: “The Conservatives have now put our economy into reverse.” More detailed data painted a bleaker picture than the headline figures, with GDP per person falling in every quarter last year and down 0.7 per cent over 2023 as a whole.

It was the first time the UK has experienced a recession since the Covid pandemic, and excluding the exceptional circumstances of lockdowns, it was the first downturn since the financial crisis in 2008 and 2009.

Esta historia es de la edición February 15, 2024 de Evening Standard.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

Esta historia es de la edición February 15, 2024 de Evening Standard.

Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.

MÁS HISTORIAS DE EVENING STANDARDVer todo
In the eye of the storm A rich account of Britain's political chaos
The London Standard

In the eye of the storm A rich account of Britain's political chaos

Tim Shipman’s fourth and final tome covers Johnson to Sunak, via Truss

time-read
4 minutos  |
November 28, 2024
Is this government full of amateurs?
The London Standard

Is this government full of amateurs?

Labour's hard landing has revealed a cabinet struggling with the basics

time-read
4 minutos  |
November 28, 2024
It's going to be weird when the national anthem plays, but I'm so proud to lead the United States
The London Standard

It's going to be weird when the national anthem plays, but I'm so proud to lead the United States

Emma Hayes closed the book on 12 trophy-laden years at Chelsea with her fifth consecutive Women’s Super League title in May.

time-read
6 minutos  |
November 28, 2024
Can Guardiola fix 'fragile' City after latest implosion?
The London Standard

Can Guardiola fix 'fragile' City after latest implosion?

Rebuilding his ageing side will bea greater challenge than building it in the first place for one of the greats

time-read
3 minutos  |
November 28, 2024
London wins battle of the global city brands again...
The London Standard

London wins battle of the global city brands again...

...but the capital still has plenty of work to do ifit wants to keep that crown

time-read
4 minutos  |
November 28, 2024
At home with...Earl of East
The London Standard

At home with...Earl of East

The duo behind the fragrance brand have made a Leyton new-build their sanctuary

time-read
4 minutos  |
November 28, 2024
How evolution evolved: the risks and rewards of gene-editing technology
The London Standard

How evolution evolved: the risks and rewards of gene-editing technology

INDIA BLOCKspeaks to paediatrician and TV writer Dr Neal Baer about the controversial advancement

time-read
4 minutos  |
November 28, 2024
This beloved take on Dickens is a joyful gift that keeps on giving
The London Standard

This beloved take on Dickens is a joyful gift that keeps on giving

AIl through a bright, bitter winter day I was smiling because I was coming to see Jack Thorne's adapAtation of Charles Dickens's story again.

time-read
2 minutos  |
November 28, 2024
Market merrymaking
The London Standard

Market merrymaking

Bundle up in your warmest coat, hat and mittens to visit the best Christmas markets in the UK.

time-read
3 minutos  |
November 28, 2024
Festive favourites
The London Standard

Festive favourites

Perfect your Christmas spread with a vibrant spin on a seasonal staple.

time-read
2 minutos  |
November 28, 2024