A GENERATION will miss out on feeling better off as the economy continues to stutter, the Business Secretary fears.
Jonathan Reynolds said it meant “you have got to hope it is your grandkids rather than your kids being better off”.
Business Secretary Jonathan Reynolds has issued a grim warning to an entire generation of BritsGetty
It came as the UK narrowly avoided recession, growing by just 0.1 per cent in the final three months of 2024.
For the previous quarter it was zero.
Overall, GDP per head fell about 0.1 per cent in 2024, official figures showed.
But it comes after Sir Keir Starmer revealed in December that raising living standards by 2029 was a key priority.
The Tories attacked the government demanding a reversal of the hike to employers’ national insurance contributions and dropping new workers’ rights legislation
Shadow Cabinet Minister Andrew Griffith said the figures showed “that in just six months Labour have crushed confidence and driven the UK economy into a ditch”.
He added: “To get the UK back on the road, businesses now need urgent action to stop the jobs tax and shelve the trade union-inspired Employment Rights Bill.”
Rachel Reeves said she was “still not satisfied” over the economy as there are still concerns whether she will meet her fiscal rules which could lead to Whitehall spending cuts next month.
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