Summary
The UK economy stagnated in Q3 2024, with 0.0% GDP growth, down from an initial estimate of 0.1%.
Prime Minister Keir Starmer’s new government faces economic challenges, exacerbated by business tax hikes announced in October.
Analysts predict zero growth for the second half of 2024, while weak exports, falling business confidence, and stagnant living standards signal broader concerns.
Critics urge reevaluation of tax policies, as businesses brace for declining activity and rising costs into 2025.
Something tells me that in a few months, Brits are going to look at the American economy and be grateful the UK’s economy just flatlined.