UK GDP Contraction Marks Start of Protracted Recession

The video discusses the UK's economic challenges, highlighting a recession marked by a 0.2% GDP fall. It examines the impact of high inflation, interest rates, and events like the Queen's funeral on economic sentiment. The discussion includes fiscal policy strategies by Jeremy Hunt and Rishi Sunak, focusing on balancing market demands and voter needs. Future strategies involve controlling inflation, potential tax rises, and investment in skills and R&D to boost long-term growth.

What was the GDP contraction in the UK during the third quarter?

• 10.1%

• 0.2%

• 8.2%

• 5.5%

Which event contributed to the economic downturn in the UK?

• The Olympics

• Brexit

• A royal wedding

• The Queen's funeral

What is the UK government expected to implement to control inflation?

• Increase in public spending

• Stealth tax rises

• Reduction in interest rates

• Expansion of infrastructure projects

What is a key focus of Rishi Sunak's economic vision?

• Reduction in R&D investment

• Immediate tax cuts

• Increased borrowing

• Supply-side reforms

Which areas are emphasized for long-term economic growth in the UK?

• Skills, R&D, and business investment

• Tourism and hospitality

• Defense and security

• Retail and agriculture