General Election 2024: UK economy flatlines in April, official figures show

Published

1 year ago

June 12, 2024

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The UK economy flatlined in April, according to official figures that have been seized on by the government’s critics as evidence the Conservatives’ heralded plan is not working.

The Office for National Statistics (ONS) said there was zero growth in April compared to the 0.4% figure recorded during March.

A Reuters news agency poll of economists had predicted the 0% performance given earlier evidence that wet weather had knocked retail sales and construction output particularly hard.

The GDP (gross domestic product) report from the ONS – the last to be released ahead of the election – showed UK overall rainfall at 155% of the long-term average in April.

Construction output was found to have declined by 1.4% as a result, the number crunchers said, also aided by poor demand for construction products in the manufacturing sector.

Production was down by 0.9% while the services sector – accounting for almost 80% of UK total output – grew by just 0.2%.

Despite the emphasis on the hit from rain, the numbers still represent a setback for Prime Minister Rishi Sunak’s key election argument that the economy is improving after successive hits from the COVID pandemic followed by the cost of living crisis.

The UK exited a short-lived recession at the end of 2023 when growth of 0.6% was registered in the first quarter of the current year.

While economists continue to see growth in the three months to June, expectations are for growth of around 0.3% – half the rate achieved between January and March.

Ahead of polling day on 4 July, there will be a final set of inflation figures followed, the next day, by a Bank of England interest rate decision.

Financial markets and economists see little chance of a rate cut on 20 June, largely because wages are growing at a pace that risks stoking price growth further after significant progress in the battle against inflation.

The consumer prices index measure currently stands at 2.3% and is expected to ease further when the figures for May are released.

Chancellor Jeremy Hunt said: “There is more to do, but the economy is turning a corner and inflation is back down to normal.”

He added that the Conservatives would “keep the economy growing with our clear plan to cut taxes on work, homes and pensions”.

But shadow chancellor Rachel Reeves said of the ONS data: “Rishi Sunak claims we have turned a corner, but the economy has stalled and there is no growth.

“These figures expose the damage done after 14 years of Conservative chaos.

“We are now in the third week of this general election campaign and in that time the Labour Party has set out its plan to grow the economy by bringing back stability, unlocking private sector investment and reforming our planning system.

“All the Conservatives are offering is more of the same, with a desperate wish list of unfunded spending promises that will mean £4,800 more on people’s mortgages. Rishi Sunak’s plan is a recipe for five more years of Tory chaos.”

Liberal Democrat Treasury spokeswoman Sarah Olney said the lack of growth in April showed the Tories had “utterly failed” to deliver on their promises.

“As Rishi Sunak’s time as prime minister peters out, so does the UK’s economic growth,” she said.

“The Conservatives have utterly failed to deliver the growth they repeatedly promised, instead presiding over stagnation and economic misery for hardworking families across the country.

“The Conservatives’ manifesto shows they simply lack the ambition and vision to get the economy moving again.

“It’s clear for voters across the country that the only way to make it happen is to vote them out of office on July 4.”

Yael Selfin, chief economist at KPMG UK, said of the outlook: “Forward-looking indicators point to renewed momentum in activity over the coming months, supported by an improvement in consumer sentiment as pay growth remains strong.

“The early summer general election could help resolve political uncertainties which could provide a boost for business investment.

“Nonetheless, whichever party wins the election will have to contend with a number of supply-side challenges which will constrain the UK’s long-term growth potential.

“We expect economic activity to remain sluggish in historical terms this year with growth at just 0.5%.”

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Fans to see Ticketmaster changes after Oasis investigation – here’s what they are

Published

5 hours ago

September 25, 2025

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Fans to see Ticketmaster changes after Oasis investigation - here's what they are

Fans will see a series of changes to Ticketmaster sales practices after an investigation into Oasis concert prices.

The Competition and Markets Authority (CMA) has secured a number of commitments from Ticketmaster after its investigation found it did not offer fans enough clarity on pricing.

Money latest: Ticketmaster forced to change sales process

It identified that Ticketmaster did not tell Oasis fans waiting in lengthy queues that standing tickets were being sold at two different prices – and that prices would jump as soon as the cheap tickets sold out.

It also said Ticketmaster sold some “platinum” tickets at almost 2.5 times the price of ‘standard’ tickets – without sufficiently explaining that they offered no additional benefits over some ‘standard’ tickets in the same areas of the venue.

Ticketmaster will now be required to:

Tell fans 24 hours in advance if a tiered pricing system is being used. This means fans will know beforehand if there are multiple prices for the same type of ticket, and that more expensive ones will be released once the cheapest sell out;
Provide more information about ticket prices during online queues, helping fans anticipate how much they might have to pay;
Give additional information to help fans make the best decisions, and give more information about the prices of tickets sold using tiered pricing;
Not use any misleading ticket labels, giving the impression that one ticket is better than another when that is not the case;
Provide regular reports to the CMA on how it has implemented the changes over the next two years to ensure robust compliance.

Failure to implement these measures could result in enforcement action.

Separate to the CMA report, Ticketmaster have now also stopped using “platinum” labels in the UK.

The CMA said it hopes the measures will send a “clear message” to other ticketing websites, adding: “If Ticketmaster fails to deliver on these changes, we won’t hesitate to take further action.”

“Fans who spend their hard-earned money to see artists they love deserve to see clear, accurate information, upfront,” said CMA chief executive Sarah Cardell.

“We can’t ensure every fan gets a ticket for events as popular as the Oasis tour, but we can help ensure that next time an event like this comes along, fans have the information they need, when they need it.”

Responding to the findings, Ticketmaster said: “We welcome the CMA’s confirmation there was no dynamic pricing, no unfair practices and that we did not breach consumer law.

“To further improve the customer experience, we’ve voluntarily committed to clearer communication about ticket prices in queues. This builds on our capped resale, strong bot protection, and clear pricing displays, and we encourage the CMA to hold the entire industry to these same standards.”

The watchdog launched its investigation following widespread complaints about the sale that saw over 900,000 tickets purchased through the site.

Some ended up paying as much as £355 for tickets originally advertised for £148.

The CMA had made it clear, in an update in March, that it was seeking a series of remedies that were yet to be agreed.

It explained then that Ticketmaster labelled certain seated tickets as “platinum” and sold them for nearly two-and-a-half times the price of equivalent standard tickets, without explaining why they were more expensive.

It found that it “risked giving consumers the misleading impression that platinum tickets were better”.

The regulator also concluded that Ticketmaster did not inform fans that there were two categories of standing tickets at different prices, but it said there was no evidence that dynamic pricing – a form of surge pricing where costs can rise depending on levels of demand – was used.

The UK leg of the Oasis tour will end at Wembley Stadium this coming weekend.

A major test of the CMA’s agreement with Ticketmaster could come soon, however, as it is widely believed that Oasis plan to return to Knebworth House in Hertfordshire next year for a gig to mark the 30th anniversary of their celebrated 1996 concert.

UK

UK boosts pandemic readiness with new vaccine factory

Published

8 hours ago

September 25, 2025

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UK boosts pandemic readiness with new vaccine factory

A US vaccine firm has opened the first mRNA manufacturing plant in the UK, against a backdrop of increasing anti-jab rhetoric back home.

The new facility outside Oxford is part of a £1bn investment in the UK by Moderna, which specialises in mRNA.

The novel vaccine technology delivered some of the most effective and fastest-to-develop jabs during the COVID pandemic.

Several pharma companies, including Germany’s leading mRNA pioneer BioNTech, are now racing to develop new therapies.

Moderna says the plant will produce up to 100 million doses of its existing vaccine products each year. It has also been designed to scale-up production to 250 million doses a year in the event of a new disease outbreak.

“God-forbid, if there is another pandemic, we can switch the facility any day,” said Moderna CEO Stephane Bancel.

The UK investment deal was agreed by the previous government, but the plant’s opening is welcome relief for the current one.

In recent weeks, four major pharmaceutical companies have halted planned investments in the UK following disputes over drug pricing and profitability in the UK.

‘A great statement’

It also promises to restore domestic vaccine manufacturing capability in the UK, the lack of which was exposed when dangerous supply interruptions threatened the early COVID response.

“It’s a really fast way of getting new vaccines discovered,” said Lord Patrick Vallance, former chief scientist and now science minister.

“It’s also a great statement of confidence in the UK that [Moderna has] chosen to base themselves here.”

Moderna: UK ‘still believes’ in vaccines

The mRNA molecule is the same used by our cells to order the production of new proteins, and allows vaccines to be produced using just the genetic code of a virus or other biological target.

Moderna’s investment decision pre-dated Donald Trump’s return to the White House, but the Moderna CEO said its operation in the UK – a country that “still believes in vaccination” – may pay dividends if anti-vaccine rhetoric translates into a lack of demand for its products in the US.

“If there is less appetite by governments around the world, including in the US, to use vaccines, we might invest less in vaccines,” said Mr Bancel.

“We have to invest where there’s a demand for our products.”

The UK presents other attractions for the company which has suffered substantial losses as demand for its COVID vaccine has fallen.

It’s betting that leading UK universities and a large patient population will make for successful clinical trials.

The company has ongoing NHS trials of new jabs against seasonal flu, a combination COVID and flu vaccine, cancer vaccines and mRNA therapies for two inherited childhood diseases.

Moderna says it is now the largest private commercial sponsor of clinical trials in the UK.

UK

Wayne Rooney says he’d be dead if it wasn’t for wife Coleen

Published

10 hours ago

September 25, 2025

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Wayne Rooney says he'd be dead if it wasn't for wife Coleen

Footballer Wayne Rooney has said he believes he would be dead if it wasn’t for his wife Coleen’s help with his alcohol issues.

The former England and Manchester United star told his friend and former teammate Rio Ferdinand he would “drink for two days straight” at the peak of his career.

Recalling that period on the Rio Ferdinand Presents podcast, he said he would “come training and at the weekend I’d score two goals and then I’d go back and go and drink for two days straight again”.

But the 39-year-old said his wife “helped me control that massively” and “managed me because I needed managing”.

“I honestly believe, if she weren’t there, I’d be dead,” he said.

Speaking to Ferdinand, he recalled meeting Coleen when they were at secondary school together in Liverpool and getting married in 2008 after six years of dating.

“When I was 17, she could see, she knew my mind and she knew I was a bit out there,” he said.

“I loved my football, obsessed with football, but also I loved a night out or whatever, going out. She’s seen it very early on and she’s controlled that. Well, not controlled, but helped me control that massively.”

Gum and eye drops to hide drinking at work

When he was playing for Manchester United, he would try to hide his drinking sessions from manager Sir Alex Ferguson by chewing gum and using eye drops, he added.

The couple have four children together. Their marriage has been impacted by several allegations of Rooney being unfaithful, for which he has issued public apologies.

The former striker, who is still Manchester United’s all-time record goal scorer, was arrested for drink-driving in 2017.

After he was caught over the limit in Wilmslow, Cheshire, he pleaded guilty to drink-driving and was banned for two years, made to do 100 hours of unpaid work, and was fined two weeks’ wages by his then-team Everton.

He was arrested for “public intoxication” in the US a year later and fined $116 (£86) without going to court.

Having left his role as head coach at Plymouth Argyle, Rooney now has his own BBC podcast and works as a pundit on Match Of The Day.