These growth figures are an encouraging sign, but we are not complacent. The world has changed and we have witnessed that change in recent weeks.
I know this is an anxious time for families who are worried about the cost of living and British businesses who are worried about what this change means for them.
This government will remain pragmatic and cool-headed as we seek to secure the best deal with the US that is in our national interest.
At the same time, we will be relentless in our work to kickstart economic growth, provide security for working people and renewal for Britain.
Ukraine in its war effort against Vladimir Putin’s Russia.
Posting to social media, the 71-year-old, who has been an MP since 1987, said “There is plenty of money for war, just not for the winter fuel allowance.”
Ukraine Defence Contact Group, a role previously performed by the US defense secretary until Donald Trump’s return to office.
European allies have announced a “surge” of military support for Ukraine, with the British government unveiling £450m (€516m / $580m) in UK-led aid. The funding will provide repairs and maintenance to vehicles and equipment as well as radar systems, anti-tank mines and hundreds of thousands of drones.
In comments briefed in advance, PA Media reported that Healey would tell the contact group:
The work of the Ukraine Defence Contact Group is vital to put Ukraine in the strongest possible position and pile pressure on Putin to help force him to end this terrible war.
We cannot jeopardise peace by forgetting the war, which is why today’s major package will surge support to Ukraine’s frontline fight. 2025 is the critical year for Ukraine. Our job as defence ministers is to put into the hands of the Ukrainian war fighters what they need. We must step up to deter Russian aggression by continuing to bolster Ukraine’s defences.”
Liberal Democrats say they welcome the move, but described the sums involved as “small change”. Defence spokesperson Helen Maguire said:
While we welcome any increase in support for Ukraine, this package is small change compared to what’s needed to combat Putin’s barbaric war. John Healey is right: 2025 is a critical year. But Britain needs to do more.
The UK must lead the charge in seizing the Russian assets held here in Britain — funnelling oligarchs’ money to back Zelenskyy’s brave defence of Ukraine’s sovereignty. Without that, we risk failing Ukraine in their hour of greatest need.
My colleague Jakub Krupa is following events in Brussels on our Europe live blog.
business live blog.
Conservatives was shadow minister for the environment Robbie Moore, who said “of course, we welcome any growth figures” when asked about February’s GDP figures.
However, he expressed concern about the wider direction of the economy, telling Sky News viewers:
This is just for February, and we know that the OBR gave a huge amount of caution as we head into this year, projecting a reduction in growth. And also this is before all of those punitive tax increases kick in this month, like the jobs tax, employers national insurance increases, minimum wage increases, business rates increases.
So of course, we welcome it, but based on a lot of the conversations that I was having literally just yesterday with manufacturing and engineering businesses in my constituency of Keighley, their business certainty is very, very low.
10% tariff rate the US has imposed almost worldwide, pouring cold water on Downing Street’s hopes for a breakthrough.
Speaking to CNBC, Kevin Hassett, an economist and adviser to Trump, said any deal that would persuade the president to go below that would need to be “extraordinary”.
“I think everybody expects that the 10% baseline tariff is going to be the baseline,” he said. “It is going to take some kind of extraordinary deal for the president to go below there.”
While the UK is pressing for a reduction in tariffs through a trade deal, Downing Street has stressed throughout that the world has changed and the UK must also pursue other avenues for economic growth and agreements with other partners.
Read more from Jamie Grierson here: Trump’s economic adviser dampens Starmer’s hopes of tariffs relief
news that the economy had grown by 0.5%, shadow chancellor Mel Stride said “Since coming to office, Labour’s choices have killed growth stone dead.”
The shadow chancellor asserted that there was “still a long way to go to recover.”
Referring to chancellor Rachel Reeves’ spring statement, he said “At the emergency budget, the forecasts for growth, inflation and borrowing all moved in the wrong direction because of Labour’s decisions. Hardworking families deserve better than a Government crowing about sluggish growth whilst they will be £3,500 worse off because of the jobs tax.”
better than expected monthly GDP figures for February. In a statement, she said:
These growth figures are an encouraging sign, but we are not complacent. The world has changed and we have witnessed that change in recent weeks.
I know this is an anxious time for families who are worried about the cost of living and British businesses who are worried about what this change means for them.
This government will remain pragmatic and cool-headed as we seek to secure the best deal with the US that is in our national interest.
At the same time, we will be relentless in our work to kickstart economic growth, provide security for working people and renewal for Britain.
Donald Trump’s tariff war.
Reversing a modest fall in January, the increase in gross domestic product in February could mark the last period of expansion before the threat of a global trade war dampens business investment and consumer spending.
A poll of economists had expected the economy to grow by 0.1% in February.
This month, consumers face inflation-busting utility bill and council tax increases while employers must cope with £25bn of tax rises.
Government critics are expected to accuse ministers of presiding over a long period of stagnation induced by last October’s tax-rising budget.
higher than expected GDP growth figures for February are “the dividend from a government that is stable”.
Speaking on Sky News, the Labour MP for Aberafan Maesteg said:
I think what we’re seeing is the dividend from a government that is stable, is focused on our growth mission, and is absolutely committed to supporting businesses across the country in terms of getting investment in and giving them the certainty they need.
He continued, telling viewers that the government was “freeing up planning so that can unleash businesses to invest,” and said that Labour were introducing “new rights for employees, which will, I think, really help to get a better relationship between employers and employees going across the economy.”
He also boasted of Labour’s increases to minimum wage rates, saying:
We’re seeing the rise in the living wage, which I think is also helping to put more money into the economy, giving consumers more confidence. That mixture of supply side and demand side measures are really helping to build an economy that is fit for the future.
The UK economy unexpectedly expanded by 0.5% in February, according to official figures, in a boost for Rachel Reeves before an expected downturn triggered by Donald Trump’s tariff war
The chancellor said “These growth figures are an encouraging sign, but we are not complacent”. Shadow chancellor Mel Stride said the rise showed that growth had been killed “stone dead”
Keir Starmer has said he has still not spoken to the US president since he brought in trade tariffs which have destabilised the global economy
A record fine over freedom of speech breaches at the University of Sussex has sparked wider anxiety in the sector
The UK and Germany are co-chairing a meeting in Brussels over support for Ukraine. The government has announced a £450m “surge” of military support to Ukraine
Parliament is in recess, but there will be some local campaigning for the council elections in England scheduled for next month, including Liberal Democrat leader Ed Davey visiting the River Severn in Shrewsbury. The funeral of former Scottish government minister Christina McKelvie is due to take place in Glasgow.
It is Martin Belam with you today. You can reach me at [email protected] if you have spotted typos or what you consider to be errors or omissions, or you have questions.
Source: theguardian.com
