GDP figures: Chancellor’s claims at spending review have not “survived contact with reality”

EMBARGO: Immediate Release

Responding to GDP falling by 0.3% in April, the first month of figures since the employers’ national insurance rise came into effect and Trump’s tariffs came into effect, Liberal Democrat Treasury spokesperson Daisy Cooper MP said:

“At the spending review yesterday the Chancellor suggested that the country was on the up but today this claim has not survived contact with reality.

“Today’s figures should be a wake up call for the Government which has so far refused to listen to the small businesses struggling to cope with the jobs tax, worried that our high streets will be completely hollowed out and that our hospitality sector is hanging by a thread.

“To tackle Trump’s tariffs, Ministers must stop cowering in the corner and get on with building an economic coalition of the willing with our European and Commonwealth neighbours.

“It’s time for the Government to get serious, scrap their damaging jobs tax and go for growth with a bespoke UK-EU Customs Union that will raise billions to re-build our public services.”

ENDS

Notes to Editor:

Please see reporting on GDP figures here: https://x.com/ons/status/1933041584775573880?s=46