The UK economy grew at the end of last year – We’ll be bringing you the latest updates on this Breaking Politics News story
Labour could celebrate some good news on Thursday morning after the UK economy grew at the end of last year after better than expected December figures.
Official figures showed growth was the final quarter of last year after better-than-expected expansion in December. But ministers quickly warned that they were “not satisfied” as they are serious about growing the economy to get more money in people’s pockets.
The Office for National Statistics (ONS) said gross domestic product (GDP) edged 0.1% higher between October and December, following no growth in the previous three months. It came after the ONS estimated that the economy expanded by 0.4% in December, which is better than most analysts expected,
Housing minister Matthew Pennycook told Times Radio: “Well, we’re not satisfied by the figures this morning, although there are some good indications in there, in my own sphere of responsibilities, if you like, and I hope we’re going to talk about it in some form.
“Construction numbers are up, but we’re not satisfied by these numbers. But on the other hand, we always knew that there was no silver bullet, no simple remedy to turning around 14 years of economic stagnation. We had to obviously come in, first off, and fix the public finances, put them on a sound footing, address that black hole that we discovered on assuming office.
“Then we’ve been focused on removing the regulatory barriers to growth that exist in my own area, that took the form of overhauling the national planning policy framework. So it’s a pro-growth framework.”
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