UK Economy Stagnates in April Ahead of July 4 Election

Reported 10 months ago

Official figures show that the British economy did not grow in April, dampened by wet weather affecting consumer spending and construction. The flat monthly reading, following a 0.6% increase in the first quarter, poses a challenge for Prime Minister Rishi Sunak and the Conservative Party's election campaign. While the ruling party expresses optimism, opponents like the Labour Party highlight the economic standstill as a concern. Concerns also arise regarding inflation and the Bank of England's upcoming interest rate decision, with hopes for a rate cut diminishing. The Conservatives have proposed tax cuts and reduced immigration in their manifesto ahead of the July 4 election, while Labour prepares to unveil theirs.

Source: YAHOO

View details

You may also interested in these wikis

Back to all Wikis