The UK is bracing for further tax rises this morning after official figures showed the UK economic growth slowed to 0.3 per cent in the second quarter of this year.
The Office for National Statistics (ONS) said gross domestic product (GDP) grew by 0.3 per cent between April and June this year.
It is a significant stagnation compared to the first three months of the year when growth was 0.7 per cent.
Despite the gloomy outlook, Chancellor Rachel Reeves praised the figures as a ‘positive’ sign for the country and a ‘strong start’ to the economic year.
She wrote on X: ‘Today’s economic figures are positive with a strong start to the year and continued growth in the second quarter.
‘But I know there is more to do to deliver an economy that works for working people – and rewards working people.’
Rachel Reeves (pictured) has been given a boost after official figures showed the UK economy grew by 0.3% between April and June
ONS director of economic statistics Liz McKeown said: ‘Growth slowed in the second quarter after a strong start to the year.
‘The economy was weak across April and May, with some activity having been brought forward to February and March ahead of stamp duty and tariff changes, but then recovered strongly in June.
‘Across the second quarter as a whole, growth was led by services, with computer programming, health and vehicle leasing growing.’
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