'Won't affect our pockets' Hope outlines economy data problem

'Won't affect our pockets' Hope outlines economy data problem
Georgia Pearce

By Georgia Pearce

Published: 01/09/2023

- 14:08

GB News' Political Editor Christopher Hope has praised ‘good news’ for the UK economy following a revised ‘error’ from the Office of National Statistics.

Appearing on The Live Desk, Hope revealed the ONS have admitted that the country’s Covid-era economic performance is better than previously stated, adding nearly 2% to the size of Britain’s economy.

Hope said: “The ONS take in lots of figures and estimates through their time and they're able to look back in time at what they've got hold of from businesses and all across the sectors. And they found rather good news perhaps to end the summer break here in Parliament, that the economy was 2% bigger than they thought.

“So rather than contracting by 1.2% in 2020-2021, it was 0.6% larger. Now that's good news. It means we're doing better than we thought.”

Chancellor Jeremy Hunt said in a statement to GB News: “The fact that the UK recovered from the pandemic much faster than the thought, it shows that once again those determined to talk down the British economy have been proved wrong.”

Christopher Hope concluded: “So it's good news, frankly, but it won't affect you and me in our pockets I'm afraid just yet.”

Watch Christopher’s analysis in full above.

Tune into The Live Desk, Monday to Friday from 12pm, only on GB News.

Latest Economy videos

Don't Miss

Best of Economy

Latest videos

More videos