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The Latest Breaking News from GDP

Why our economy is too important to leave to the experts

It's time to democratise economics and demand an economy that works for people and the planet, argues Catherine Knight

Newsroom.co.nz

Budget 2023: why the UK's fiscal watchdog does not share the chancellor's optimism

UK chancellor Jeremy Hunt confidently described his first budget of 2023 as a “budget for growth”. He went on to offer a fairly upbeat assessment of both economic performance and future prospects, arguing: “The declinists are wrong and the optimists are right.”

The Conversation

UK economy will deliver worst performance of any advanced country this year

Britain’s GDP is forecast to fall by less than previously expected, but is still behind all other major economies

Evening Standard

From analysis to the latest developments in health,
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Weekly Must-Read: Why China Set Its 2023 GDP Growth Target at ‘Around 5%

The new leadership set what many consider to be a moderate goal despite stronger-than-expected economic activity this year and a low base in 2022

Caixin Global

Remittances are more than 20pc of Vanuatu's GDP, but fees to send money home from Australia are high

Pacific Australian Labour Mobility scheme worker John Firiam says sending remittances to his wife and five-year-old daughter in Vanuatu is more important than ever after the recent twin cyclones.

ABC News

Troop and tank cuts going ahead despite defence spending boost, signals minister

Baroness JoJo Penn insisted: "The vision for the future of our defence that we set out in the original Integrated Review remains the vision for defence that we have set out in this country"

Daily Mirror

Hunt gets back on the boring track — but where’s the vision?

City Voices: More radical thinking needed to get Britain growing

Evening Standard

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UK’s tax burden on course to hit highest level since Second World War

The UK’s tax burden is expected to reach a post-war high of 37.7% of GDP in 2027-28.

The Independent UK

Saudi GDP Exceeds $1 Tln, Shows Kingdom’s Economy Is on Right Track

The size of Saudi Arabia’s GDP, which reached $1.7 trillion in 2016, demonstrated that the Kingdom’s economy is on the right path as it advances the implementation of Vision 2030. Vision 2030 is a unique transformative blueprint that aims to diversify and double the size of the Saudi economy, so…

Asharq Al-Awsat

New Zealand GDP down 0.6 per cent in Q4 2022

New Zealand has had a 0.6 per cent contraction in GDP in the December 2022 quarter, beginning a predicted 2023 dip a quarter earlier than expected.

AAP

'Insipid and uninspiring Budget offered botched repairs from cowboy builders'

The Chancellor claimed that he had crafted a Budget for growth. The reality is Britain remains in the economic slow lane, with GDP to shrink this year

Daily Mirror

UK economy will take more than a year to recover to pre-Covid level, says OBR

Jeremy Hunt’s efforts to boost growth unlikely to prevent largest fall in living standards on record

The Guardian - UK

UK defence budget 2023: How does spending compare with other countries?

The government will commit £11 billion to the defence budget over the next five years

Evening Standard

Budget 2023: Jeremy Hunt reveals £11bn for defence spending

Brings UK military spending to 2.25% of GDP by 2025, says chancellor

The Independent UK

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The Conversation

Budget explainer: here are some ways to read between the lines on what's being reported

UK budget announcements inevitably lead to a deluge of reporting on how the chancellor’s latest plans for the economy will affect our wallets, pensions and investments, as well as the bottom lines of businesses, charities and entire industries.

The Guardian - UK

Labour accuses government of failing to reverse cuts in defence spending

Opposition says no provisions made to plug reduction of 10,000 service personnel or replace Hercules planes

The Independent UK

Ben Wallace suggests he is not interesting in quitting over defence spending

His comments follow reports that he had threatened to resign if he did not get a commitment to raise defence spending to 3% of GDP by 2030.

Asharq Al-Awsat

UK-GCC FTA Negotiations Make Significant Progress

Chief Negotiator – UK-GCC FTA, Department for International Trade Tom Wintle revealed that the UK and Gulf Cooperation Council (GCC) countries have made “good progress” in negotiations to sign a free trade agreement (FTA). Speaking on the eve of the third round of talks kick off between the parties in…

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The Independent UK

Rishi Sunak pledges £5 billion for defence as UK faces a ‘volatile’ world

The PM is visiting California for talks with US president Joe Biden and Australian prime minister Anthony Albanese.

The New Daily

Alan Kohler: Paying for AUKUS? Spending like Europe means taxing like Europe

Before the next election, Treasurer Jim Chalmers must find a way to credibly restore a balanced budget. This means new and higher taxes.

The Guardian - UK

Britain’s older electorate can live with low GDP. It’s high inflation they abhor

Tories can take heart that the over 65s won’t punish poor GDP, research finds. Just don’t hit them in the pocket

Bangkok Post

Bleak economic view for Asia

Thailand and China are among the lone bright spots in Asia, projected to have higher real GDP growth this year even as the rest of the region is battered by unfavourable global economic conditions and geopolitical tensions, according to global trade insurer Atradius.

Evening Standard

Dark clouds over construction sector despite GDP growth, as building work slips to 11-month low

The UK building sector had its worst month in almost a year, but there may be signs of greater resilience in the London housing market

Asharq Al-Awsat

Saudi Economy Registers Highest Growth among G20 Countries

Saudi Arabia’s gross domestic product (GDP) grew by 8.7 percent in 2022, registering the highest growth rate among the G20 countries, despite the complex economic conditions and challenges facing the world. This rise has exceeded the expectations of international organizations, which have estimated the Saudi GDP to increase by 8.3…

The Guardian - UK

Economic growth of sorts, but UK plc is going nowhere

GDP is likely to edge sideways in 2023 (if that) but the true impact of rising interest rates has yet to be felt

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