The Chancellor boasted about Brexit Britain’s performance against the EU’s largest economy, saying the UK economy is now “bigger than it was before Covid.”
“One of the best ways to help with the cost of living is to grow the economy, which is why I’m pleased today’s figures show the UK economy is continuing to grow,” he tweeted.
“The economy is now larger than it was before Covid struck, and it is growing faster than the United States, Germany, France, and Italy combined.”
Despite figures from the Office for National Statistics (ONS) showing that the UK economy shrank unexpectedly in March, the boost comes as a surprise.
After stalling in February, the ONS reported that gross domestic product (GDP) fell by 0.1 percent month on month in March, down from the previous estimate of 0.1 percent growth.
Experts predicted that growth would be flat in March.
The data demonstrates the impact of rising inflation on consumer spending, with retail suffering the most.
More to follow…