The UK economy contracted by 0.1 percent in October, the ONS said (Image: GETTY)
The UK economy contracted by 0.1 percent in October, according to the Office for National Statistics (ONS).
Responding to October’s GDP statistics, Chancellor Rachel Reeves said: “We are determined to deliver economic growth as higher growth means increased living standards for everyone, everywhere. This is what our Plan for Change is all about.
“While the figures this month are disappointing, we have put in place policies to deliver long-term economic growth.
“We have put public finances back on a stable footing, capped the rate of corporation tax at the lowest level in the G7, established a £70 billion National Wealth Fund to drive growth in our towns and cities, launched a 10-year infrastructure strategy and are creating pension mega funds to boost investment in British businesses, infrastructure and clean energy.”
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