Earlier this year, Chancellor Rachel Reeves faced criticism for her tax-raising budget that threatened the UK’s economy. However, the unexpected 0.5% economic growth in February offers a glimmer of hope, suggesting resilience amid global trade tensions and rising costs. Despite this positive news, economists warn of a challenging outlook due to potential impacts from US tariffs and domestic tax increases, leading to concerns over business investment and the need for interest rate cuts to support the economy.
