The UK economy is shrinking - how much pressure is Rachel Reeves under?

<div>New figures from the Office for National Statistics show the UK economy unexpectedly shrunk by 0.1% in January. This comes only a few weeks after the Chancellor's pro-growth speech, and a fortnight ahead of her Spring Statement. Just how much pressure is Rachel Reeves under? And how likely is it that Labour will change their approach?<br><br>Economics editor Michael Simmons and deputy political editor James Heale join Patrick Gibbons to discuss, as well as a look ahead to next week's expected announcement on reducing the welfare bill.<br><br>Produced by Patrick Gibbons.</div><p>Become a <em>Spectator </em>subscriber today to access this podcast without adverts. Go to <a href="https://www.spectator.co.uk/follow-your-podcasts/" rel="noopener noreferrer" target="_blank">spectator.co.uk/adfree</a> to find out more.</p><br><p>For more <em>Spectator</em> podcasts, go to <a href="https://www.spectator.co.uk/podcasts/" rel="noopener noreferrer" target="_blank">spectator.co.uk/podcasts</a>.</p><br><p>Contact us: [email protected]</p> <hr><p style='color:grey; font-size:0.75em;'> Hosted on Acast. See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for more information.</p>