12 May 2021

Sunak says growth figures show economy ‘getting back on track’

Economics Correspondent

“Our plan is working” – the Chancellor Rishi Sunak’s response to figures published today which showed the economy did shrink in the first quarter of this year, but by 1.5 per cent.

That’s a much smaller decline than expected and, within the figures, output in March was actually up.

But even as the economy improves, he still has to deliver on the government’s “levelling up” agenda, with Labour’s new Shadow Chancellor Rachel Reeves saying now is the time to end “the lack of opportunity for far too many”.