Preheat Oven: Preheat your oven to 400°F (200°C). Lightly grease and flour an 8x8 inch (20x20 cm) baking pan, or line with parchment paper, leaving an overhang on two sides for easy removal.
Combine Dry Ingredients: In a large mixing bowl, whisk together the sifted all-purpose flour, baking powder, salt, and granulated sugar until well combined.
Cut in Shortening: Add the 1/3 cup shortening to the dry ingredients. Using a pastry blender, two knives, or your fingertips, cut the shortening into the flour mixture until it resembles coarse crumbs.
Add Wet Ingredients & Raisins: In a separate small bowl, lightly whisk the egg and milk. Add the raisins to the flour mixture. Pour the wet ingredients into the dry ingredients.
Mix Dough: Stir gently with a spoon or spatula just until the dough comes together and no dry streaks of flour remain. Be careful not to overmix, as this can make the bread tough. The dough will be thick.
Prepare Topping: In a small bowl, combine the 1/4 cup sugar (white or brown), 1 tablespoon melted butter (or shortening), and 1 teaspoon cinnamon. Mix well until a crumbly topping forms.
Assemble & Bake: Spread the dough evenly into the prepared baking pan. Sprinkle the cinnamon-sugar topping evenly over the surface of the dough.
Bake: Bake for 35-40 minutes, or until the bread is golden brown and a toothpick inserted into the center comes out clean.
Cool & Serve: Remove the pan from the oven and let the breakfast bread cool in the pan for 10-15 minutes before carefully lifting it out using the parchment paper overhang. Slice and serve warm.