Britain’s financial system shrank at the beginning of the 12 months, official figures confirmed in a significant blow to Rachel Reeves’s ambitions to kick begin progress.
The UK’s gross home product contracted by 0.1pc in January, in accordance with the Workplace for Nationwide Statistics (ONS).
It was down from 0.4pc progress in December and beneath analyst estimates of 0.1pc progress.
The drop got here throughout a month when the Chancellor delivered an formidable speech on boosting the financial system during which she gave her backing to the enlargement of Heathrow airport.