Real GDP and Real GDP per Head : Pre-election, Sir Keir Starmer pledged to put the UK at the top of the G7 league table for increases in real GDP. Since the election he has changed this to promising a rise in real GDP per head instead. Unfortunately he has failed on both counts. The UK has fallen from No.4 in the G7 in June to joint-bottom place at the end of Q3 and it looks like this will continue for Q4.

Meanwhile real GDP per head has dropped from +0.2% to -0.4%. In other words the UK is producing less per person in the population than under the previous administration. We suggest this is not a good look for a Government who tell us repeatedly their No.1 priority is growth.

Employment : By last month (November), total payrolled employment had fallen by a worrying 38,500. The majority of this fall happened in November in just one month since Rachel Reeves' budget. In the first half of this year under the Conservative government it had risen by 64,000. This is a dramatic turnaround – for the worse. With Rachel Reeves’ budget hike in the Statutory Minimum Wage about to be implemented in a few months’ time, and with Employers’ National Insurance contributions set to rise significantly, this is a metric to watch.

Observations

On Sunday the new Labour Government of the United Kingdom will have been in office for six months. This may not sound long, but it is a longer period governing the country than that of President Macron’s current Prime Minister and of his previous one, the notorious Michel Barnier. It is also a long enough time to start judging the performance of the new UK Government and of its policies.

We hope to run the Dashboard and Tracker each month, in order that readers always have the most up-to-date picture. This will of course depend on the resources we can bring to bear, which in turn depends on the level of donations we receive. Both products are also being offered commercially to media outlets and to political parties on an exclusive basis, for them to publish and use two days before we do. We can also supply sound-bites on each measure. Please note that all our presentations of this information in whole or in part are Copyright Facts4EU.Org. Interested parties can contact us here.

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