UK GDP grew 0.6% in Q1 2024, considerably more than the 0.4% expected by the Office for National Statistics. We've grown faster than France, Germany, Italy & the USA over the last quarter, and in the last week leading firms have invested over £2bn in the UK.
In October 2022, the Bank of England were expecting the longest recession in 100 years, and the Office for Budget Responsibility said the economy was going to shrink by 1.4%. But that didn’t happen. The economy grew last year, and continues to grow. Furthermore, inflation has fallen to its lowest rate for two and a half years. Mortgage rates are down from their peak and wages have grown in real terms for nine months in a row. The FTSE 100 hit new highs on Friday after confirmation that the UK economy is no longer in recession. That shows that our plan for the economy is working.
