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Fall in UK GDP puts focus back on expectations of tax rises in autumn budget

Depressing data comes as Rachel Reeves and her team were daring to hope business confidence was recoveringUK economy shrinks unexpectedly in blow to ReevesBusiness live – latest updatesMay’s unexpected 0.1% decline in GDP will make depressing reading for Rachel Reeves before a tough budget in the autumn.Stronger-than-expected growth would have helped to alleviate the squeeze on the public finances – but there is nothing in this latest data pointing to an upturn. Continue reading...

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