CHANCELLOR Sajid Javid has pledged to invest billions of pounds — after figures showed the economy slumping for parts of last year. West Midlands’ output fell 1.6 per cent last April to June, says the Office for National Statistics. Brexit wrangling saw the economy as a whole dip by 0.1 per cent. London saw 4.5 […]
CHANCELLOR Sajid Javid has pledged to invest billions of pounds — after figures showed the economy slumping for parts of last year.
West Midlands’ output fell 1.6 per cent last April to June, says the Office for National Statistics.
Brexit wrangling saw the economy as a whole dip by 0.1 per cent.
London saw 4.5 per cent growth — more than double any other region.
Mr Javid said: “We want every region to share in the opportunities ahead as we open a new chapter for our economy.
“My Budget on March 11 will invest billions to level up skills and opportunities to unleash Britain’s potential.”
Meanwhile, Germany’s industrial output fell 3.5 per cent month on month in December — its sharpest fall since 2009.
Experts there blamed uncertainty over trade ties with Britain and the coronavirus, which is hitting imports of car parts.
Marcel Fratzscher, President of the German Institute for Economic Research, added while Brexit “won’t kill Germany” it would hit growth.
He said: “I am pessimistic about the German outlook because Germany could experience something like the perfect storm.”
France is also suffering an industrial slump, with output for December being hit by nationwide transport strikes in protest at Emmanuel Macron’s policies.
