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The UK economy grew by only 0.1% in the third quarter of 2024, significantly below expectations. This disappointing figure follows Labour's election victory, raising concerns about the government's ability to stimulate growth amid rising taxes and uncertainty in business investment. The economy contracted by 0.1% in September, indicating a slowdown.
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Recent polling indicates a decline in Labour's support following a controversial budget that raised taxes significantly. Kemi Badenoch, the new Conservative leader, has gained traction, narrowing the gap with Labour. The political landscape is shifting as both parties navigate public sentiment and economic challenges.
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As mass protests loom against the government's inheritance tax changes, Prime Minister Sir Keir Starmer is set to defend his Budget in a speech in Wales. Farmers are preparing for a week-long strike, while Chancellor Rachel Reeves aims to reassure the business community with plans for financial reforms.
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Reform UK, led by Nigel Farage, is mobilizing to professionalize and expand its influence following a successful general election. With membership surging to nearly 100,000, the party is focusing on local issues and grassroots campaigning to challenge Labour and the Conservatives in upcoming elections.