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UK economy shrinks 0.1% in January following decline in factory output – business live


Key events

And here is Rachel Reeves, the chancellor, responding to the drop in GDP.

The world has changed and across the globe we are feeling the consequences. That’s why we are going further and faster to protect our country, reform our public services and kickstart economic growth to deliver on our plan for change.

And why we are launching the biggest sustained increase in defence spending since the Cold War, fundamentally reshaping the British state to deliver for working people and their families; and taking on the blockers to get Britain building again.





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