Reeves 'disappointed' by UK economy unexpectedly shrinking
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Reeves 'disappointed' by UK economy unexpectedly shrinking
The UK economy unexpectedly contracted in October, marking two months in a row of negative growth for the first time since the pandemic, new figures show.
Chancellor Rachel Reeves said she was “disappointed” by the data after a weak month for pubs and restaurants dragged on growth amid some uncertainty ahead of the autumn Budget.
Chancellor Rachel Reeves this week confirmed government support for dozens of big projects to boost growth, on top of Labour's existing promise to build 1.5.. Sky News
Guests arriving for the funeral of former Deputy Prime Minister Lord John Prescott. Arrivals include: Sir Lindsay Hoyle, Angela Rayner, John Healey, Rachel Reeves, Sir Keir Starmer, Gordon Brown, Sir Sadiq Khan, David Lammy, Yvette Cooper and Ed Balls, and Tony Blair. Arrivals followed by the coffin being carried into the church.
Report by Faragt. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The shadow chancellor has argued that Rachel Reeves's plan to expand Heathrow Airport doesn't do enough to tackle economic issues affecting people now, claiming it will only come into effect in the next 10-30 years, if at all. Mel Stride did, however, assert his support for Reeves's planned Heathrow expansion, despite citing Labour divisions about the issue including Mayor of London Sir Sadiq Khan's objections. Report by Faragt. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves has asserted that she is "confident" that her plans for Heathrow expansion will find the right balance between sustainable aviation and economic growth. This comes a day after the chancellor's major speech outlining plans for economic growth and initiatives, including a third runway at Heathrow Airport and investments into the Oxford-Cambridge 'Growth Corridor'. Report by Faragt. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Footage of Chancellor Rachel Reeves as she meets with business leaders at a business networking reception at Siemens Healthineers in Oxford and tours the Siemens Healthineers medical facility after her speech on economic growth. Report by Faragt. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
A senior Conservative has said the messages sacked Labour minister Andrew Gwynne reportedly posted in a WhatsApp chat were “concerning". Shadow Cabinet Office Minister Alex Burghart says Andrew Gwynne’s suspension raises “serious questions” about whether he should remain an MP. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Hundreds of people have gathered to remember 15-year-old Harvey Willgoose who was stabbed to death at his school. Bishop Ralph Heskett, the Bishop of Hallam, asked for St Marie’s Cathedral in central Sheffield to be open for those wanting a place for private prayer. Harvey died on Monday after being killed at All Saints Catholic School in Granville Road in the city. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Liberal Democrat leader Sir Ed Davey criticised the government for failing to properly consult bereaved families before confirming Grenfell Tower’s demolition. He urged the importance of involving survivors and relatives at every stage. Davey also encouraged ministers to speed up the removal of dangerous cladding from other buildings to prevent future tragedies. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The late Barry Humphries’ personal collection is up for auction, featuring Dame Edna Everage’s iconic diamante glasses. A stage and screen veteran, Humphries delighted audiences with satirical characters like Dame Edna and Sir Les Patterson. The Australian entertainer died in April 2023, aged 89. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
A major railway line is closed after a car driven by a suspected drunk-driver crashed onto train tracks, causing disruption to train services between Manchester and Liverpool. Greater Manchester Police said the driver of the car, a man in his 30s, was arrested on suspicion of drink-driving. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
UK retail sales unexpectedly declined last month in a blow to the sector during the all-important festive shopping season, new official figures show. The volume of retail sales – which measures the quantity bought – fell by 0.3% in December, the Office for National Statistics said. Retail analyst Kate Hardcastle said that the flop in sales was down to "savvy" customers who "cut corners" to save money. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Rachel Reeves says news that the economy grew by 0.1% in November is "welcome, albeit modestly". The chancellor adds the latest Office for National Statistics figures show "we need to go further and faster in delivering growth to make people in Britain better off". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
The chief secretary to the Treasury has hailed an unexpected dip in inflation, but admits that the cost of living "is still a pressure for families across the country and there's more work to do". Darren Jones adds the latest Office for National Statistics figures, "shows that the prime minister's plan for change is working". Inflation has fallen to 2.5% in December from 2.6% in November, which will come as a relief to Chancellor Rachel Reeves, who has faced criticism given rising government borrowing costs and a slump in the value of the pound. The latest figures could open the door for an interest rate cut next month. Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
Chief Secretary to the Treasury Darren Jones says the Labour government is still committed to stimulating economic growth despite figures from the Office of National Statistics showing the economy recorded no growth in the third quarter of this year. Report by Etemadil. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn