Reeves expresses disappointment on BBC over UK economy's 0.3% contraction in Apr

The UK economy shrank by 0.3% in April, according to the latest GDP figures released by the Office for National Statistics, which is more than the 0.1% contraction that was anticipated by economists.

This disappointing performance comes the day after Chancellor Rachel Reeves pledged to boost growth in her Spending Review. However, on a more positive note, the economy grew by 0.7% in the three months to April compared to the previous three months. Rachel Reeves admitted she was "disappointed" with the figures but remained determined to turn around the poor growth numbers. Meanwhile, Conservative leader Kemi Badenoch accused the Labour government of spending future generations' money and called for public service reforms.
The Spending Review has been met with mixed reactions, with the Institute for Fiscal Studies (IFS) director Paul Johnson warning that if the economy does not improve, further tax rises may be necessary. The review included a 1.1% increase in grant funding for local government, but it is assumed that council tax will rise by up to 5% annually to cover increased spending.

BBC