Thursday 18 July 2019 / 10:29 AM Economy / John McDonnell

John McDonnell responds to OBR Fiscal Risks report

John McDonnell MP, Labour’s shadow chancellor, commenting on the Office for Budget Responsibility’s ‘Fiscal Risks’ report, said:

“It’s obvious the Conservative Party constitutes a clear and present danger to the economy and the wellbeing of everyone in the UK.

“We know that a No Deal Brexit would devastate the UK economy and the public finances, and it comes on top of the failed economic approach for the last nine years.

“This warning makes it even more imperative MPs from across Parliament back today’s amendments to try and block the next Prime Minister from shutting down Parliament to force through a no-deal Brexit.

“The OBR says that the current Chancellor has ‘all but given up’ on his borrowing targets, with the Treasury having lost its grip on spending just as the Chancellor has lost control over the Brexit argument in the Conservative Party.”