Chancellor Rachel Reeves faces criticism as UK economy shows signs of stagnation

Chancellor Rachel Reeves is facing criticism for her recent economic policies as the UK's economy shows signs of stagnation. Her October budget included tax increases that critics argue have hurt businesses and investment. A Bank of England report indicates that many firms plan to raise prices and reduce hiring due to increased National Insurance costs. A survey found that 42% of wealthy individuals are considering moving their assets out of the UK for better tax conditions. Recent data shows a decline in the UK's GDP, with production and construction output falling in October 2024. This follows a similar trend from September, raising concerns about the overall economic performance.