David Vance SubstackRead More
The Labour Government came to power in July of last year promising us that it was laser-focused on economic growth. Remember all those self assured soundbites from Starmer and Reeves insisting that economic growth was their number one priority and that now THEY were in charge things would change. Well, they were right.
Things have changed and for the worse! The latest figures are out for Q3 2025 and they are bad. As you can see, the UK has gone through THREE MONTHS of zero growth. This is the opposite of what Labour promised but it is very much what Labour is delivering.
You might remember Labour telling you that they had inherited an economic disaster from the Conservatives and it would take a little while to fix it. That was a lie. Here is the full view of the last 18 months. As you can see, the economy was producing some positive GDP under the Conservatives but that almost instantly plummeted in July 2024.
There has been only ONE quarter when the UK economy under Labour showed modest growth and that was in Q1 2024 when economic activity was brought forward ahead of the Trump tariffs end of March.
So I think it is fair to say that there is virtually no growth in the UK economy at this stage.
And we are less than two weeks out from Reeves second budget which she has acknowledged will be painful. That won’t fix growth but it will guarantee decline.
The real problem here is that socialists don’t get economics. If they did, they wouldn’t be socialists!
