"Fresh figures from the Office for National Statistics showed the economy grew by 0.6 per cent in the first three months of the year, with GDP rising by 0.3 per cent in March alone despite growing tensions in the Middle East and the ongoing conflict involving Iran. The stronger-than-expected performance offered a rare piece of good news for a government battling collapsing poll ratings, market jitters and mounting speculation about leadership."
"Shadow Chancellor Mel Stride accused Labour rivals of positioning themselves against Keir Starmer of destabilising the economy through reckless promises and political infighting. "This week, borrowing costs hit their highest level in thirty years as Labour leadership contenders competed to promise even more spending, borrowing and fantasy economics," he said."
"His intervention came after yields on 10-year gilts climbed to their highest level since the 2008 financial crisis earlier this week, while 30-year gilt yields surged to their highest level since 1998. Rising gilt yields increase the cost of government borrowing and are closely watched by markets as a measure of confidence in Britain's fiscal stability."
"The turmoil within Labour has intensified dramatically following disastrous local election results, triggering open speculation about Keir Starmer's future. Former Health Secretary Wes Streeting has emerged as one of several figures linked to possible leadership ma"
The economy grew 0.6% in the first three months of the year, with GDP rising 0.3% in March. The stronger performance provided limited relief amid collapsing poll ratings, market jitters, and leadership speculation. Political chaos within Labour is raising fears that internal warfare could damage Britain’s financial credibility. Shadow Chancellor Mel Stride warned that leadership contenders are making reckless spending and borrowing promises, contributing to destabilisation. Borrowing costs reached their highest level in thirty years, with 10-year gilt yields at the highest since 2008 and 30-year gilt yields at the highest since 1998. Higher gilt yields increase government borrowing costs and signal reduced confidence in fiscal stability.
Read at London Business News | Londonlovesbusiness.com
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