The Conservatives have accused the Government of being unduly pessimistic about economic growth in order to justify raising taxes at the Budget
The figures mean that the UK economy is growing more quickly than any other member of the G7, while inflation data this week showed the rate of price rises remains under control.ahead of the Budget in October – warning that higher taxes and cuts to spending are still on the table as part of a plan to balance the public finances.
Asked whether he was talking down the national economy, Mr Jones replied: “What we inherited from the Conservatives was the worst fiscal inheritance since the Second World War. We’ve got much, much more work to do to recover from the mess that we are left with.” The more positive picture on GDP growth will give Rachel Reeves extra room to maneouvre at the Budget, economists predicted, because it will boost expectations of future tax revenues from the Office for Budget Responsibility .
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