Huge Boost For Rachel Reeves As Economic Growth Soars

achel Reeves attend a concert to mark the 80th Anniversary of V-E Day at Horse Guards Parade, London, Thursday May 8, 2025. Britian’s economic growth soared in the first three months of this year, new figures have revealed.In a major boost for Rachel Reeves, the Office for National Statistics confirmed that the UK’s national income (GDP) increased by 0.7% between January and March.By contrast, the economy only grew by 0.1% in the final three months of 2024.The higher-than-expected figure for the first quarter of 2025 comes despite intense criticism from opposition parties of the chancellor’s economic policies, most notably the increase to employers’ National Insurance.Reeves said: “Today’s growth figures show the strength and potential of the UK economy.“In the first three months of the year, the UK economy has grown faster than the US, Canada, France, Italy and Germany.“Up against a backdrop of global uncertainty we are making the right choices now in the national interest. Since the election we have already had four interest rate cuts, signed two trade deals, saved British Steel and given a pay rise to millions by increasing the minimum wage.“Our plan for change is working. But I know there is more to do and that is why I’m determined we go further and faster to make working people better off.”GDP grew 0.7% in Quarter 1 (Jan to Mar) 2025.Services (+0.7%) and production (+1.1%) both grew, while construction (0.0%) was flat.Read the full article ➡️ https://t.co/unTRD62jYMpic.twitter.com/AJNok66meb— Office for National Statistics (ONS) (@ONS) May 15, 2025Liz McKeown, the ONS’s director economic statistics, said: “The economy grew strongly in the first quarter of the year, largely driven by services, though production also grew significantly, after a period of decline.”But shadow chancellor Mel Stride warns tough times could still lie ahead.He said: “While it’s welcome the economy is growing, both the OBR and IMF have downgraded the UK’s growth.“Labour inherited the fastest-growing economy in the G7, but their decisions have put that progress at risk.”Related...Rachel Reeves Sends Message To Labour MPs Unhappy About Welfare CutsExclusive: Rachel Reeves Has Been Involved In Talks On Changing Labour's Winter Fuel Payment PolicyBlow For Rachel Reeves As Trump Tariffs Blamed For UK Economic Slowdown

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