Despite John Healey’s defiance, the economy faces threats from a tech slowdown and energy bills this winter
The forecasters were clear when John Healey became chancellor in July: Britain’s resilience to the war in the Middle East would not last. The global economic headwinds were too strong, inflation was beginning to rise and growth would slow to a trickle.
Four months into the job, the economy is continuing to defy expectations after growing by 0.7% in the third quarter – the fastest expansion in two and a half years. It puts the UK on course to be the second-fastest growing G7 economy this year.
