PM response to February GDP figures

Prime Minister Rishi Sunak said:

“Today's GDP figures are further evidence that the economy has turned a corner, with growth in both January and February and the Bank of England forecasting growth to be higher than previously forecast in the long term.

“Inflation is down from over 11 per cent to 3.4 per cent, wages are rising faster than prices, and unemployment remains low. This shows how important it is to stick to our economic plan and is why we are able to reward work and cut taxes for millions of people from this month. Our long-term ambition is to abolish NICs entirely and end the unfairness of the double taxation of work.”