August GDP fall – John McDonnell responds
John McDonnell MP, Labour’s Shadow Chancellor, commenting on GDP falling by 0.1% in August, said:
“The effects of the government’s failure are being felt across the economy but especially in our manufacturing sector.
“The Conservatives’ dangerous No Deal Brexit comes on the back of a decade of cuts and a failure to invest to tackle the long-term challenges for the economy.
“A Labour government will tackle the productivity crisis by ending austerity, boosting wages, and providing half a trillion pounds of lending and spending for economic transformation.”
Notes to Editors:
- GDP fell 0.1 per cent in August https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpmonthlyestimateuk/august2019?hootPostID=239255185f67b83e5c1b2ec301c7d744 “Rolling three-month growth in the production sector was negative 0.4% in August 2019, with growth in manufacturing at negative 1.1 per cent.”