Sunak’s tax giveaway fails to spur a speedy economic recovery
by Phillip Inman from on (#5N7ZG)
Analysis: GDP figures show attempts to revive business investment have not got off to a flying start
If Rishi Sunak hoped his massive tax giveaway in the spring budget to spur business investment would have quick results, the figures for the UK's national income (GDP) in the second quarter will have proved to be a disappointment.
The amount businesses spent on new kit for the office and machinery for the factory inched higher by 2.4%, but the rise left overall spending on investment 15.3% below pre-pandemic levels.
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