Rolling coverage of the latest economic and financial news, including the GDP report for March, and the first quarter of this year
Latest: UK GDP fell 0.1% in MarchQuarterly growth slowed to 0.8% in Q1Introduction: UK economy in focusCould Terra fall prove to be Lehman Brothers moment for cryptocurrencies?Saudi Aramco overtakes Apple as world’s most valuable company
The drop in GDP in March will add to the pressure on the government to do more to help struggling families, as calls for an emergency budget increase.
Chancellor of the Exchequer, Rishi Sunak, says he knows these are ‘anxious times’ — but does not pledge any new help.
“The UK economy recovered quickly from the worst of the pandemic and our growth in the first few months of the year was strong, faster than the US, Germany and Italy, but I know these are still anxious times.
“Our recovery is being disrupted by Putin’s barbaric invasion of Ukraine and other global challenges but we are continuing to help people where we can.
“The time absolutely has come for action whether it’s an emergency budget or whether it’s another vehicle.”
Must needed!