Wake Up to Money And the 0.7% goes to...
May 16, 2025
Paula Walsh, Managing Director of Arup, and Tom Pugh, a UK economist from RSM, share their insights on the surprises in the UK's GDP growth and its effects on everyday life. They discuss how Eurovision can boost local business, the complexities of tariffs faced by retailers like Walmart, and the challenges in the construction sector. The conversation also examines how migration positively influences economic growth and job creation, all while navigating the uncertainties of global trade and energy pricing in long-term projects.
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UK Economy's Q1 2025 Growth Context
- The UK economy grew by 0.7% in Q1 2025, the fastest in the G7, but some growth was due to activity being brought forward before tariff and tax changes.
- Real economic strength exists but faces headwinds including tariffs, higher taxes, and global slowdown ahead.
Eurovision Party Tradition
- Zaina Bain and friends have hosted the same Eurovision party for 15 years involving voting, singing, and cuisine from the previous year's winner.
- This tradition reflects the social and cultural significance of Eurovision beyond the competition itself.
Construction Faces Investment Challenges
- Construction and infrastructure sectors suffer from cost pressures and investment uncertainty, causing flat growth in the industry.
- Stable government policy and spending plans could improve investment and unlock growth potentials.