Britain’s economy grew by 0.6 percent in the April-June period, showing a slight deceleration from the 0.7 percent expansion recorded in the first quarter of 2024, according to official data released on Thursday.
The statistics cover the time leading up to Britain’s general election in early July, which saw the centre-left Labour party come into power with a pledge to significantly boost the nation’s economic growth.
Finance Minister Rachel Reeves addressed the latest GDP figures on Thursday, acknowledging the significant challenges facing the new government. “We are fully aware of the scale of the task at hand after more than a decade of stagnant economic growth and a £22 billion ($28 billion) shortfall in public finances,” Reeves stated.
She emphasised that the government has made economic growth a top priority. “That is why we have committed to making economic growth our national mission. We are taking decisive actions now to address these foundational issues, with the goal of rebuilding Britain and improving the prosperity of every region in the country.”
