Business and Economics

Britain had faced an inflation ‘double whammy’ with both a tight jobs market and a trade shock, Megan Greene said.

The ONS estimated that gross domestic product fell by 0.3 per cent in the fourth quarter, following a decline of 0.1 per cent in the previous three months.

The move deals another heavy blow to London’s languishing stock markets.

Britain has “significantly underperformed” compared with the EU and US since the vote to leave in June 2016, Goldman Sachs claims.

“This is really basic… I’m amazed that you don’t know that debt is rising.”

The shadow chancellor said she had heard the calls from company bosses to end the ‘chopping and changing’ seen under the Government.

The decision has faced a backlash for rewarding bankers and failing to address cost-of-living concerns affecting households across the UK.

The body’s chief economist said: ‘We would advise against further discretionary tax cuts as envisioned and discussed now.’

The pub chain has revealed a jump in sales despite the boss warning about costs.