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UK economic growth slows ahead of Budget

Rachel Reeves refuses to rule out hiking income tax, VAT or National Insurance in Budget
  • UK economic growth slowed to 0.1 per cent in the three months to September, a decrease from 0.3 per cent in the previous quarter.
  • This slowdown represents a setback for the Chancellor ahead of the upcoming autumn Budget.
  • The contraction missed economists' predictions of zero growth for the month.
  • A cyber attack on Jaguar Land Rover significantly impacted the manufacturing sector, contributing to the September decline.
  • The Office for National Statistics (ONS) highlighted weaker performance in both the services and construction sectors, alongside a fall in car production and the pharmaceutical industry.
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