Rishi Sunak blames the Ukraine war as UK economy officially shrinks

According to the Bank of England the UK economy shrank by 0.1 percent in the three months to March.

Chancellor of the Exchequer, Rishi Sunak said: “The UK economy recovered quickly from the worst of the pandemic and our growth in the first few months of the year was strong, faster than the US, Germany and Italy, but I know these are still anxious times.

“Our recovery is being disrupted by Putin’s barbaric invasion of Ukraine and other global challenges but we are continuing to help people where we can.

“Growth is the best way to help families in the longer-term so as well as easing immediate pressures on households and businesses, we are investing in capital, people and ideas to boost living standards in the future.”

More to follow…

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