UK living standards fall despite fastest growth in G7 – business live

Rolling coverage of the latest economic and financial news, as GDP quarterly national accounts show how UK economy fared in January to March 2026

The UK’s growth of 0.6% in January-March outpaces the rest of the G7, just!

The US and Japan were close behind, with quarterly growth of 0.5%, while Italy and Germany both grew by 0.3%.

The impact of the reduction in the tax-free allowance for capital gains, and the resulting increase in Capital Gains Tax payments, contributed to the increase in taxes on income and wealth.