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Drop in GDP makes tax rises yet more likely
The Guardian
|July 12, 2025
May's unexpected 0.1% decline in GDP will make depressing reading for Rachel Reeves before a tough budget in the autumn.
May's unexpected 0.1% decline in GDP will make depressing reading for Rachel Reeves before a tough budget in the autumn. Stronger than expected growth would have helped to alleviate the squeeze on the public finances - but there is nothing in this latest data pointing to an upturn.
The 0.1% fall in May is marginal, but it follows a 0.3% contraction in April. The Office for National Statistics (ONS) has revised up March's growth, to 0.4% - but barring a bumper June, it looks like the economy may well have been going backward in the second quarter of the year.
Cette histoire est tirée de l'édition July 12, 2025 de The Guardian.
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