hancellor Rachel Reeves said she will “fight every day to deliver” economic growth (Image: Getty)
Chancellor Rachel Reeves has said she will “fight every day to deliver” economic growth despite “disappointing” growth figures.
Gross domestic product grew by just 0.1% in November, the Office for National Statistics said. This followed a 0.1% contraction in October.
Shadow chancellor Mel Stride said: “Labour inherited the fastest-growing economy in the G7 but this is the third month in a row of disappointing growth figures.
“The Chancellor seems content with burying her head in the sand, but this is a crisis made in Downing Street. We need an urgent change of course.”
The expansion in activity will be welcomed by the Treasury, as it shows the economy expanded following the budget at the end of October.
But growth was slower than expected, as City economists had forecast that GDP would rise by 0.2% in November.
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Ms Reeves said: “I am determined to go further and faster to kickstart economic growth, which is the number one priority in our Plan for Change.
“That means generating investment, driving reform and a relentless commitment to root out waste in public spending, and today I will be pressing regulators on what more they can do to deliver growth.
“After fourteen years of economic stagnation, this Government’s number one mission is to grow our economy. I will fight every day to deliver that growth and put more money into working people’s pockets.”
Liberal Democrat Treasury spokeswoman accused the Chancellor of putting the “handbrake” on the nation’s economy.
She said: “The Chancellor has put the handbrake on the economy with her misguided jobs tax and the consequence is this pitiful rate of growth.
“Every month this persists means less money in struggling families’ pockets and public services without the funding they need.
“After years of the ’ economic vandalism, the public was crying out for change but this new Government is falling well short of fixing this mess.
“Rachel Reeves needs to see sense and scrap her foolish jobs tax, and pursue a real strategy for growth like fixing our broken trade relationship with our European partners and replacing the broken business rates system.”