UK economy frozen!

Well, to the surprise of absolutely no-one, we see that the ONS has revised its figure for Quarter 3 2024 and there was ZERO growth. Flat-lined.

So the very first 3 months of the Labour government has coincided with complete economic stagnation. It’s not unheard of that a new Government comes to power and struggles a little before finding its feet but this is much more ominous and I will get to that in a minute bur first you need to understand that the ONS figure for the UK economic for the first six months of this year showed it grew by 1.3%. This put it as the best performing G7 economy. Then came Labour.