“I absolutely believe that the economy has turned a corner and we’re now pointing in the right direction.”
Rishi Sunak has been brutally mocked online after predicting that the UK economy had turned a corner and was on the up, less than 24 hours before official stats revealed that the economy had in fact entered recession.
Figures released by the Office for National Statistics showed that gross domestic product (GDP) fell by a larger than expected 0.3% in the three months to December after a decline in all main sectors of the economy and a collapse in retail sales in the run-up to Christmas.
The UK saw no economic growth between April to June and a 0.1% contraction in July to September, ONS revisions show, confirming a second consecutive quarter of falling national output-which means the country has hit a recession.
A clip being shared on X (formerly Twitter) shows Sunak speaking to the first meeting of the 2024 Business Council on February 14, where he says: “I absolutely believe that the economy has turned a corner and we’re now pointing in the right direction.”
He added: “Everyone is predicting us to grow this year. I think PwC has said that we’re going to outperform from France, Germany and Japan this year.”
News that the UK has entered recession will be another blow for Sunak’s authority, given that he made ‘growing the economy’ one of his 5 key pledges to voters when he took office.
Rachel Reeves, the shadow chancellor, said: “Rishi Sunak’s promise to grow the economy is now in tatters. The prime minister can no longer credibly claim that his plan is working or that he has turned the corner on more than 14 years of economic decline under the Conservatives that has left Britain worse off.
“This is Rishi Sunak’s recession, and the news will be deeply worrying for families and business across Britain.”
Basit Mahmood is editor of Left Foot Forward
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