Friday 12 February 2021 / 8:26 AM Anneliese Dodds / Economy

Anneliese Dodds responds to new GDP figures showing the UK economy shrank by a record 9.9% last year

Anneliese Dodds MP, Labour’s Shadow Chancellor, responding to new GDP figures that show the UK economy shrank by a record 9.9% last year, said:

“These figures confirm that not only has the UK had the worst death toll in Europe, we’ve experiencing the worst economic crisis of any major economy.

“Businesses can’t wait any longer. The Chancellor needs to come forward now with a plan to secure the economy in the months ahead, with support going hand-in-hand with health restrictions.

“We need a smarter furlough scheme that offers certainty beyond April, alongside an extension to the business rates holiday and the vital VAT reduction for hospitality and tourism to give businesses breathing space.

“This crisis has pulled back the curtain on the Conservatives’ insecure economy. We need to rebuild stronger, putting in place the foundations for a better, more secure future.”