Friday 5 April 2019 / 10:20 AM Economy / John McDonnell

John McDonnell responds to ONS productivity figures

John McDonnell MP, Shadow Chancellor, responding to news that productivity fell again in Q4 2018 compared with a year earlier, said:

“We have a productivity crisis on our hands and this Government is in denial about it.

“For all the Chancellor’s talk of a ‘productivity agenda’, productivity continues to stagnate and is 18% below its pre-crisis trend.

“The next Labour Government will tackle low productivity as part of our transformative agenda, establishing a National Investment Bank and a network of regional development banks to provide the lending and investment this country so desperately needs.”