Pedestrian growth underlines the need for a change in direction from the new PM

Growth Commission member Ewen Stewart has issued the following response to the GDP figures for the three months to May 2026 that have been issued this morning:

“These are pedestrian numbers. While we welcome the 0.7% growth over the last three months, it must be noted that GDP in May rose just 0.1% after a fall of 0.1% in April. Compared with a year ago, GDP is up by a miserable 1.1%. While this has become the new normal, it is very poor compared with longer term trends.

“Underlying GDP for May was saved by growth in services, and tech in particular. Both production and construction output declined.

“As Britain faces yet another change in Prime Minister, these figures underline the need for a change in direction. Britain needs to reverse the trend that more public spending and regulation are the answer – particularly in the fields of energy and employment policy. So long as we remain an over-regulated and highly-taxed country, improvements to prosperity and living standards will be negligible.”