Shadow chancellor Jeremy Hunt warned of tax rises to come (Image: Getty)
Jeremy Hunt has slammed Rachel Reeves' decision to blame the Tories for inevitable Labour tax rises despite growth in the economy.
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Gross domestic product (GDP) increased by 0.6% between April and June, the Office for National Statistics (ONS) said.
Jeremy Hunt MP, Shadow Chancellor of the Exchequer, said: “Today’s figures are yet further proof that Labour has inherited a growing and resilient economy.
“The Chancellor’s attempt to blame her economic inheritance on her decision to raise taxes - tax rises she had always planned - will not wash with the public.
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“Labour promised over 50 times in the election they would not raise people’s taxes and we will hold them to account on their promises.”
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Britain’s economy outperformed its European rivals during the final months of Rishi Sunak’s government as the UK finally moved past its recession, the official figures show.
Despite this, the Chancellor warned of “difficult decisions” to come in her October 30 budget which is set to include tax rises.
Taking to X, formerly Twitter, Ms Reeves said: “We are under no illusion as to the scale of the challenge we have inherited from the Conservatives after more than a decade of low growth and a ￡22 billion black hole in the public finances.
“That’s why we are taking the tough decisions now to fix the foundations of our economy.”
Yael Selfin, chief economist at KPMG UK, told how growth was boosted by a rise in government spending and investment, with somewhat weaker growth in consumer spending compared to the previous quarter.
Selfin added: “This comes in contrast to the first quarter of the year, which was primarily driven by rising export demand.
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“After robust growth in May, a weaker June was expected, with weaker retail trade accounting for the main part of the overall slowdown in services.
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“On the other hand, both the construction and manufacturing sectors showed positive growth in June despite seeing an overall decline in the quarter.
“While growth in the second half of the year is expected to slow, overall growth for 2024 could reach 1.1%, well above expectations at the start of the year.”