After decrying the dire economic inheritance left by the last government, Labour is celebrating an economy that is closing in on one of the government’s most ambitious targets: recording the fastest growth in the G7.
The latest official growth figures show that the UK expanded by a healthy 0.6 per cent in the second quarter of the year, outpacing all G7 countries with the exception of the United States (data from Japan has not yet been published). Over the first half of this year, growth rose by 1.3 per cent, the best in the G7 and already in line with Labour’s aim to top the block of advanced economies over the next five years.
The economy is enjoying an impressive recovery from a brief recession