UK GDP was weaker than expected in April, with the economy contracting by 0.3%, compared to market expectations for a 0.1% fall.

The fall was due to a combination of increased employer national insurance contributions, minimum wage increases, higher energy prices and the initial effects of President Trump’s tariffs.

Chancellor Rachel Reeves said the growth figure are "clearly disappointing".

"Our number one mission is delivering growth to put more money in people's pockets through our Plan for Change, and while these numbers are clearly disappointing, I'm determined to deliver on that mission.

"In yesterday's spending review we set out how we'll deliver jobs and growth - whether that's improving city region transport, a record investment in affordable homes or funding Sizewell C nuclear power station.

"We're investing in Britain's renewal to make working people better off."

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