UK Economy Outpaces France and Germany
Chancellor Rishi Sunak has accused the BBC of burying good news and echoing Labour's rhetoric on the economy. The UK economy has actually grown much faster than initially predicted since the start of the pandemic, outpacing France and Germany. GDP has grown by 1.8% since Covid began, defying expectations of a 0.2% contraction. This development comes as a surprise to statisticians who had predicted otherwise.
Sunak Criticizes BBC for Neglecting the Story
Speaking on Trending In The News, Sunak expressed his astonishment at the BBC's failure to give prominence to this news. He also added that the BBC had previously covered inaccurate commentary on the British economy for two years. Sunak stated, "The narrative that people have built up over the last couple of years is completely and utterly wrong. Keir Starmer and Labour have tried time and time again to talk down our country, to talk down our economy. And I’m delighted that the numbers will show they’re completely and utterly wrong."
UK Surpasses France's Growth Rate
According to the latest figures, the UK's growth rate of 1.8% exceeds France's growth of 1.7% and Germany's growth of 0.2% between the end of 2019 and June of this year. This positive development means that the economy is on track to reach its pre-Covid size by the end of 2021. However, the UK is still behind countries like Italy, Canada, Japan, and the US in terms of economic growth.
Increase in GDP for Q1 2021
The Office for National Statistics has also reported that GDP rose by 0.3% in the first three months of this year, up from the previous estimate of 0.1%. However, strike action and adverse weather conditions in July led to a 0.5% contraction in the economy.
Chancellor Jeremy Hunt commented on these findings, saying, "We know that the economy recovered faster from the pandemic than anyone previously thought — and data out today once again proves the doubters wrong."
