North Swindon MP Justin Tomlinson has welcomed news that new GDP figures show the economy has returned to growth and we have the joint fastest growth in the G7.
Figures released this morning estimate the economy grew by 0.6 per cent between January and March 2024, returning to growth. The figures also mean the UK has the joint fastest growth in the G7 this quarter, with the UK economy growing faster than the US, Italy, France and Germany in the first quarter of this year. Thanks to the work of successive Conservative Governments, the UK has grown faster than France, Germany, Italy and Japan since 2010.
According research from the Centre for Economics and Business Research, the UK is likely to maintain its position as the sixth-largest global economy and is expected to be 10.2 per cent larger than France in 2033, this is forecast to increase to 19.9 per cent by 2038. In that same period, the gap between the UK and Germany — which is nearly a third larger than the UK — is expected to narrow slightly to 28.8 per cent.
Justin Tomlinson MP said: “There is no doubt it has been a difficult few years, but today’s growth figures are proof that by sticking to the plan the economy is turning a corner for the first time since the pandemic.”
