Charlie Stayt delivered breaking news (Image: BBC)
BBC Breakfast was halted for major breaking news as anchor Charlie Stayt delivered a crushing blow to Labour Chancellor Rachel Reeves live on-air. In the Breakfast studio, Charlie told viewers: “In the last few minutes we’ve had the first update since the Budget on how the economy is faring. Important figures these – Peter Ruddick, aren’t they, for all of us?”
He turned to finance expert Ruddick, who joined him in the studio. Ruddick explained to viewers at home: “Very important figures. Always important to remember, they are a bit like looking in the rearview mirror at what has happened, not what is happening right now. The headline news is that the economy failed to grow in October – in fact, it contracted by 0.1%, a bit of a surprise.
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“Remember, a growing economy tends to mean businesses doing well, expanding, investing, putting up jobs and wages. A shrinking economy can mean the opposite.”
He further added: “So what’s behind this 0.1% fall in October? We have to rewind back to then – what was going on? If you look at the details, the services sector, that’s how we describe retail and haircuts… that sector really failed to grow.
“Could that be because of pre-Budget jitters, people not sure about what was coming in the Budget and taxes holding back their spending?”
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