Friday 10 August 2018 / 9:41 AM Economy / John McDonnell

John McDonnell responds to GDP figures

John McDonnell MP, Labour’s Shadow Chancellor, commenting on the latest GDP figures, said:

“More than eight years of unnecessary ideologically-driven austerity has created an economy unable to cope with the instability brought about by the Tories’ mismanagement of the Brexit negotiations. The result is low growth and stagnant pay.

“Growth is anaemic, councils are going bankrupt and the NHS is now in permanent crisis while holidaymakers are being hit by the Tories’ falling pound.

“Labour will bring stability to the economy and rising living standards with long term stable planning and investment and by securing a Brexit deal that puts jobs and the economy first.”