UK a ‘stagnation nation’ after economy fails to grow; Alison Rose to lose £7.6m over Farage row – as it happened
by Graeme Wearden from Economics | The Guardian on (#6G8YD)
Rolling coverage of the latest economic and financial news, as UK GDP is unchanged in July-September
- Full story: UK economy flatlines in third quarter amid high interest rates
- Analysis: UK economy continues sideways drift with no sign of uplift
- Full story: NatWest scraps more than 7.5m of Alison Rose's payout after Farage scandal
The chancellor, Jeremy Hunt, has blamed high inflation for the UK's lacklustre economic performance.
Following the news that GDP stagnated in July-September, Hunt says:
High inflation is the single greatest barrier to economic growth.
The best way to sustainably grow our economy right now is stick to our plan and knock inflation on its head. The Autumn Statement will focus on how we get the economy growing healthily again by unlocking investment, getting people back into work and reforming our public services so we can deliver the growth our country needs."
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