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One For @Him Her
Positive news for the UK for a change
The British economy grew by 0.6 per cent in the three months to June, double the rate seen in the first quarter of 2013.
The figures were a major boost for George Osborne, as the Office for National Statistics said every part of the economy was now growing for the first time since the middle of 2010.
Ahead of the data being released, the Chancellor joined bakers, builders and supermarket staff at 1.30am to highlight the commitment of night shift workers who ‘provide the service that we take for granted in the morning’.
Recovery: Latest figures from the Office for National Statistics show the economy grew by 0.6 per cent in the second quarter of 2013, but remains 3.3 per cent below the pre-crash peak in 2008
The figures published by the Office for National Statistics will add to the growing optimism about the state of the economy, which has been buoyed by the summer heatwave and the arrival of the royal baby Prince George.
Mr Osborne hailed the results as 'better than forecast' but warned the economy is not out of the woods yet.
'Britain is holding its nerve, we are sticking to our plan, and the British economy is on the mend - but there is still a long way to go and I know things are still tough for families.
'So I will not let up in my determination to make sure we put right all that went wrong in our economy.
'Unlike the unbalanced economy before the crisis, we are going to make sure that we have an economy that works for all.'
Use your loaf: Chancellor George Osborne meets staff at Warburtons Bakery in Wednesbury near Birmingham ahead of the latest growth figures being released
Crate stuff: The Chancellor spent the evening seeing how businesses operate through the night and how shift staff work
Making dough: Confidence in the economy is at its highest level since the Coalition came to power, a new survey suggests
The ONS said service industries grew by 0.6 per cent, production rose by 0.6 per cent and manufacturing increased by 0.4 per cent.
Crucially, construction rose sharply by 0.9 per cent compared with the first quarter of 2013, when output was at its lowest level since 2001.
Despite the upbeat news, experts warned that the economy is still 3.3 per cent below its pre-crash peak in early 2008.
'The British economy is on the mend - but there is still a long way to go and I know things are still tough for families'
Chancellor George Osborne
Families are also still feeling the squeeze, with wage rises failing to keep pace with the rising cost of living.
Ed Balls, Labour's shadow chancellor, said: 'After three wasted and damaging years of flatlining, this economic growth is both welcome and long overdue.
'But families on middle and low incomes are still not seeing any recovery in their living standards.
'While millionaires have been given a huge tax cut, for everyone else life is getting harder with prices still rising much faster than wages.
'Real risks remain. So instead of more complacency from the Chancellor, we need action to catch up all the lost ground and secure a strong and sustained recovery that everybody can benefit from.'
Budget pressure: Wage rises are failing to keep pace with increasing living costs, making it harder for workers to make ends meet
Matthew Oakley, head of economics and social policy at the Policy Exchange think tank, said: 'These figures add to the feel good factor sweeping the country.
'However, in reality they make little difference to the long term economic outlook of the UK. Politicians need to tackle the deep structural challenges facing the economy.'
Vicky Redwood, of Capital Economics, said: 'Of course, we shouldn't get too carried away. Even a 0.6 per cent quarterly rise is fairly mediocre after such a deep recession and GDP is still 3.3 per cent below its peak.
'And with households' real pay still falling, bank lending flat and public sector austerity measures building, the economy may struggle to maintain its recent rate of growth in the second half of this year.'
Hit the road: At 00.30am Mr Osborne joined workers improving junction 7 of the M6
Overnight Mr Osborne visited night shift workers in the Midlands as he sought to emphasise that ‘hardworking people’ are at the heart of the recovery.
At just after midnight he visited a Warburtons bakery in Wednesbury ‘to see the night shift produce the bread that’ll be on our shelves in the morning’.
Half an hour later he was visiting an overnight team working on roadworks on the M6 to improve junction 7.
‘First time I’ve met people in the middle of a motorway,’ Mr Osborne tweeted.
By 1.30am the Chancellor was at a giant 24/7 Tesco depot in Daventry ‘watching train to Scotland being loaded’. He promised to be back to watch the day shift this morning.
Hi-vis: The Chancellor joked that it was the first time he had held a meet and greet in the middle of a motorway
Machinery of government: The Chancellor climbed aboard the heavy plant being used to on the section of the M6 motorway near Birmingham
Mr Osborne said: ‘Millions of Britons work late shifts, work nights they provide the service that we take for granted in the morning.
‘And they are the unsung heroes of the British economy and our economic plan is going to help these hard working people as we move from rescue to recovery,’ he told ITV News.
The Chancellor has been boosted by figures showing confidence in the economy is at its highest level since the Coalition came to power.
Economic left: By 1.30am Mr Osborne was touring a Tesco depot in Daventry, where he saw goods being loaded on to a train to Scotland
Heroes: The efforts of night shift workers was helping the economy on the road to recovery, Mr Osborne claimed
Looking up: The government has been boosted by growing signs of a sustained economic recovery
A report by YouGov and the Centre for Economics and Business Research think-tank shows the mood among UK households is the most optimistic since April 2010, just before Labour was booted from office as the economy reeled from the aftermath of the financial crisis.
A separate survey by the CBI yesterday showed factory output rose again this month as the manufacturing sector took a further step on the road to recovery.
Domestic orders recorded the strongest growth in a year while export orders rose at the fastest rate in more than two years.
Mr Osborne yesterday welcomed ‘encouraging’ figures showing Britain attracts more investment from overseas than any other European country.
The number of UK projects funded by foreign businesses rose by 11 per cent in 2012-13 to 1,559 – safeguarding 110,000 British jobs and creating 60,000 posts.
Praising the UK Trade and Investment report, Business for Britain called on the Government to ‘be bold in seeking to renegotiate a much better deal for Britain from the EU’.
SOURCE:
THE DAILY MAIL
Positive news for the UK for a change
- Growth of 0.6% from April to June, up from 0.3% in first 3 months of 2013
- Every sector of the economy including construction saw an uplift
- George Osborne says data is better than forecast but 'still a long way to go'
- Chancellor joins the night shift with bakers and roadworks teams
- Survey shows consumer confidence at highest level since coalition formed
- Labour's Ed Balls says growth is 'welcome but long overdue'
The British economy grew by 0.6 per cent in the three months to June, double the rate seen in the first quarter of 2013.
The figures were a major boost for George Osborne, as the Office for National Statistics said every part of the economy was now growing for the first time since the middle of 2010.
Ahead of the data being released, the Chancellor joined bakers, builders and supermarket staff at 1.30am to highlight the commitment of night shift workers who ‘provide the service that we take for granted in the morning’.
Recovery: Latest figures from the Office for National Statistics show the economy grew by 0.6 per cent in the second quarter of 2013, but remains 3.3 per cent below the pre-crash peak in 2008
The figures published by the Office for National Statistics will add to the growing optimism about the state of the economy, which has been buoyed by the summer heatwave and the arrival of the royal baby Prince George.
Mr Osborne hailed the results as 'better than forecast' but warned the economy is not out of the woods yet.
'Britain is holding its nerve, we are sticking to our plan, and the British economy is on the mend - but there is still a long way to go and I know things are still tough for families.
'So I will not let up in my determination to make sure we put right all that went wrong in our economy.
'Unlike the unbalanced economy before the crisis, we are going to make sure that we have an economy that works for all.'
Use your loaf: Chancellor George Osborne meets staff at Warburtons Bakery in Wednesbury near Birmingham ahead of the latest growth figures being released
Crate stuff: The Chancellor spent the evening seeing how businesses operate through the night and how shift staff work
Making dough: Confidence in the economy is at its highest level since the Coalition came to power, a new survey suggests
The ONS said service industries grew by 0.6 per cent, production rose by 0.6 per cent and manufacturing increased by 0.4 per cent.
Crucially, construction rose sharply by 0.9 per cent compared with the first quarter of 2013, when output was at its lowest level since 2001.
Despite the upbeat news, experts warned that the economy is still 3.3 per cent below its pre-crash peak in early 2008.
'The British economy is on the mend - but there is still a long way to go and I know things are still tough for families'
Chancellor George Osborne
Families are also still feeling the squeeze, with wage rises failing to keep pace with the rising cost of living.
Ed Balls, Labour's shadow chancellor, said: 'After three wasted and damaging years of flatlining, this economic growth is both welcome and long overdue.
'But families on middle and low incomes are still not seeing any recovery in their living standards.
'While millionaires have been given a huge tax cut, for everyone else life is getting harder with prices still rising much faster than wages.
'Real risks remain. So instead of more complacency from the Chancellor, we need action to catch up all the lost ground and secure a strong and sustained recovery that everybody can benefit from.'
Budget pressure: Wage rises are failing to keep pace with increasing living costs, making it harder for workers to make ends meet
Matthew Oakley, head of economics and social policy at the Policy Exchange think tank, said: 'These figures add to the feel good factor sweeping the country.
'However, in reality they make little difference to the long term economic outlook of the UK. Politicians need to tackle the deep structural challenges facing the economy.'
Vicky Redwood, of Capital Economics, said: 'Of course, we shouldn't get too carried away. Even a 0.6 per cent quarterly rise is fairly mediocre after such a deep recession and GDP is still 3.3 per cent below its peak.
'And with households' real pay still falling, bank lending flat and public sector austerity measures building, the economy may struggle to maintain its recent rate of growth in the second half of this year.'
Hit the road: At 00.30am Mr Osborne joined workers improving junction 7 of the M6
Overnight Mr Osborne visited night shift workers in the Midlands as he sought to emphasise that ‘hardworking people’ are at the heart of the recovery.
At just after midnight he visited a Warburtons bakery in Wednesbury ‘to see the night shift produce the bread that’ll be on our shelves in the morning’.
Half an hour later he was visiting an overnight team working on roadworks on the M6 to improve junction 7.
‘First time I’ve met people in the middle of a motorway,’ Mr Osborne tweeted.
By 1.30am the Chancellor was at a giant 24/7 Tesco depot in Daventry ‘watching train to Scotland being loaded’. He promised to be back to watch the day shift this morning.
Hi-vis: The Chancellor joked that it was the first time he had held a meet and greet in the middle of a motorway
Machinery of government: The Chancellor climbed aboard the heavy plant being used to on the section of the M6 motorway near Birmingham
Mr Osborne said: ‘Millions of Britons work late shifts, work nights they provide the service that we take for granted in the morning.
‘And they are the unsung heroes of the British economy and our economic plan is going to help these hard working people as we move from rescue to recovery,’ he told ITV News.
The Chancellor has been boosted by figures showing confidence in the economy is at its highest level since the Coalition came to power.
Economic left: By 1.30am Mr Osborne was touring a Tesco depot in Daventry, where he saw goods being loaded on to a train to Scotland
Heroes: The efforts of night shift workers was helping the economy on the road to recovery, Mr Osborne claimed
Looking up: The government has been boosted by growing signs of a sustained economic recovery
A report by YouGov and the Centre for Economics and Business Research think-tank shows the mood among UK households is the most optimistic since April 2010, just before Labour was booted from office as the economy reeled from the aftermath of the financial crisis.
A separate survey by the CBI yesterday showed factory output rose again this month as the manufacturing sector took a further step on the road to recovery.
Domestic orders recorded the strongest growth in a year while export orders rose at the fastest rate in more than two years.
Mr Osborne yesterday welcomed ‘encouraging’ figures showing Britain attracts more investment from overseas than any other European country.
The number of UK projects funded by foreign businesses rose by 11 per cent in 2012-13 to 1,559 – safeguarding 110,000 British jobs and creating 60,000 posts.
Praising the UK Trade and Investment report, Business for Britain called on the Government to ‘be bold in seeking to renegotiate a much better deal for Britain from the EU’.
SOURCE:
THE DAILY MAIL
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