GDP figures from Q2 have now been revised, so that the economy only shrank by 0.4%, rather than the 0.7% originally recorded.
Still worth bearing in mind though, that this is the amount of growth there has been in the UK economy since Osborne’s Spending Review:
In total Osborne has been in charge of economy for 8 quarters. The economy has shrunk in 5 of them.



More from LabourList
Labour’s identity crisis – caught between Blairism and Blue Labour
‘AI superintelligence regulation is what we owe voters of this generation and those to come’
Letters to the Editor – week ending 14 December 2025