Published On Nov 15, 2024, 2:07 AM
The UK economy grew by only 0.1% between July and September, which was lower than expected. Most industries saw subdued activity, and the government has faced criticism for tax increases that businesses believe could harm employment and increase prices. The Chancellor is pushing for pension sector reforms to stimulate investment and boost economic growth.
Negative
The disappointing growth figures may lead to further scrutiny of government policies and potential market volatility, impacting sectors sensitive to economic changes.
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Governor Andrew Bailey will deliver his strongest comments yet on the UK's departure from the EU.
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The rate of unemployment stood at 4.3% in the three months to September, up from 4% the previous quarter.
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The Budget is about the long game on the economy and Reeves believes the current pain is a price worth paying.