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Keir Starmer, Labour Party leader, has pledged to prioritize wealth creation and economic growth in the UK in the party’s manifesto, positioning it as a central theme for his campaign. Speaking at the Co-op headquarters in Manchester, Starmer emphasized the importance of addressing the nation’s economic issues and presented a vision aimed at winning over former Tory voters. Economic growth as a cornerstoneStarmer highlighted the broken nature of current wealth creation systems, stating, “The way we create wealth is broken. It leaves far too many people feeling insecure. Wealth creation is our ...
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As the UK approaches a crucial election, Labour leader Keir Starmer has outlined an ambitious plan to revive the country’s economy. Amidst a backdrop of Tory disintegration, Starmer’s proposals focus on avoiding major tax increases while seeking innovative ways to generate the necessary investment for economic growth. Labour’s economic pledgesStarmer has promised a so-called triple lock of no income tax, VAT, or National Insurance rises. However, Labour is looking at other avenues for raising funds. The party intends to reform council tax bands, which would result in a transfer of wealth from ...
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Hopes of the United Kingdom shaking its late 2023 technical recession appear to have been short-lived, after grim real gross domestic product (GDP) figures from the Office for National Statistics (ONS) this morning. According to the ONS, the UK economy stalled in April, showing no growth whatsoever, showing 0% figures versus the 0.4% growth seen in March 2024. Declining production and constructionThis morning’s data also showed that production output in the UK fell by 0.9% in April 2024 following growth of 0.2% in March 2024, but grew by 0.7% in the three months to April 2024. Construction out...
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Rishi Sunak, the UK Prime Minister, is facing a significant decline in popularity, particularly among 2019 Conservative voters, following his controversial decision to skip D-Day commemorations for a campaign television interview. The Prime Minister’s approval rating has dropped by 12 percentage points in a week, a development that has put him behind Nigel Farage, who has recently resumed leadership of Reform UK. Sunak’s net score among 2019 Tory voters falls drasticallyAccording to a survey conducted by JL Partners, Sunak’s net score among 2019 Tory supporters plummeted from 20 points on June...
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This morning, the United Kingdom’s Office for National Statistics (ONS) released the country’s latest unemployment and employment figures. The period in question was undoubtedly an embattled one for the labour landscape. In March alone, the ONS estimated that 22,000 working days were lost because of labour disputes across the UK. Joblessness upFrom January to March 2024, the unemployment rate stood at 4.3%, up 0.3 percentage points year-on-year. This was up marginally from the 4.2% estimated for the quarter last month, and up significantly from the previous quarter’s amount of 3.8%. This comes...
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This morning, the United Kingdom Office for National Statistics (ONS) released better-than-expected GDP figures for the UK’s first quarterly estimate from January to March 2024. The results showed quarterly growth of 0.6% for the nation’s GDP, and year-on-year growth of 0.2%, according to the ONS: UK gross domestic product (GDP) is estimated to have increased by 0.6% in Quarter 1 (Jan to Mar) 2024, following declines of 0.3% in Quarter 4 (Oct to Dec) and 0.1% in Quarter 3 (July to Sept) 2023. Compared with the same quarter a year ago, GDP is estimated to have increased by 0.2% in Quarter 1 202...
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