Cheaper pints, surprise wage boost & fuel duty freeze in Budget – but £40BILLION tax blitz will pay for it
Budget 2024 highlights
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BRITAIN is on “recession watch” after the faltering economy shrank for the second month in a row, experts say.
Output contracted by 0.1 per cent in the four weeks before October’s Budget.
GettyExperts say that the economy shrank for the second month in a row following Rachel Reeves’ October Budget[/caption]
Retailers and wholesalers were hit before its release as ministers peddled a “doom and gloom” message on the state of public finances before launching a £40billion tax raid.
Julian Jessop, of the Institute of Economic Affairs, said: “The second successive monthly fall in economic activity in October should put the UK firmly on recession watch.
“The new government’s negative rhetoric over summer and the anticipation of a tight Budget have damaged sentiment.”