Good Morning Britain halted as Charlotte Hawkins issues major breaking news announcement
Presenter Charlotte Hawkins halted ITV's Good Morning Britain today (December 13) to make an important announcement. She shared that there was breaking news, just in, about the state of the UK's economy.
Speaking into the camera, the TV star shared: "I've got some breaking news for you now. The UK economy has shrunk slightly, by 0.1% in October. That's according to the Office of National Statistics (ONS) that's just been released in the last few minutes.
"It goes against what had been predicted. Economists had forecasted an expansion of 0.1%. It seems pubs, restaurants and retail all had a weak month. However, the economy still grew a little over the last three months as a whole."
Responding to October’s GDP statistics, Chancellor Rachel Reeves said: “We are determined to deliver economic growth as higher growth means increased living standards for everyone, everywhere. This is what our Plan for Change is all about.
“While the figures this month are disappointing, we have put in place policies to deliver long-term economic growth.
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GMB halted for breaking news (Image: ITV)“We have put public finances back on a stable footing, capped the rate of corporation tax at the lowest level in the G7, established a £70 billion National Wealth Fund to drive growth in our towns and cities, launched a 10-year infrastructure strategy and are creating pension mega funds to boost investment in British businesses, infrastructure and clean energy.”
However, experts have said that the change in figures could be "worrying for consumers and business as it puts recession chatter back on the table".
Alice Haine, personal finance analyst at Bestinvest by Evelyn Partners, said: “The contraction in October will be concerning for the new Government as it offers a stark reflection of the hit to the economy from the uncertainty running up to the Budget, when consumers and businesses descended into a state of panic over what measures the Chancellor might deliver.
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"Some of the most feared changes to personal taxation may not have materialised, but £40billion in tax rises is a lot for an economy to get to grips with particularly when businesses are expected to shoulder most of that burden."
They continued: "Consumer confidence has been knocked sideways since the new Government first warned it would need to make ‘painful’ policy changes to get the country’s finances on track.
"It means Christmas, typically a lucrative period for the economy, may be a more restrained affair as consumers budget carefully rather than lavish the cash on festive fun to protect their finances against any further hits from higher prices, lower end-of-year bonuses or job cuts.”
Good Morning Britain halted as Charlotte Hawkins issues major breaking news announcement
Good Morning Britain halted as Charlotte Hawkins issues major breaking news announcement
Good Morning Britain halted as Charlotte Hawkins issues major breaking news announcement
Good Morning Britain halted as Charlotte Hawkins issues major breaking news announcement
Good Morning Britain halted as Charlotte Hawkins issues major breaking news announcement
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