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UK business investment suffers longest decline since financial crisis - business live

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  • UK business investment suffers longest decline since financial crisis - business live

    New GDP report shows that British bosses have cut back on buying new machinery and computers, as Brexit crisis hits confidence11.26am GMT
    John McDonnell MP, Shadow Chancellor, is (predictably) unimpressed by the picture painted by today’s economic data.
    “Amidst the Government’s Brexit bungling, the Chancellor has repeatedly failed to get a grip on tumbling business investment, high household borrowing, weak growth, and a widening current account deficit.
    “We need a general election to bring an end to the Tories’ chaotic management of Brexit and reckless economic management.”
    Related: Replacing May is not just a game for the entitled. We must all have a say | Gaby Hinsliff
    11.17am GMT
    Britain also continued to rely on the ‘kindness of strangers’ to support its financial position.
    The UK’s current account deficit widened to 4.4% of GDP in the final quarter of 2018, the ONS says.
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