John McDonnell responds to NIESR’s pre-Budget report
John McDonnell MP, Labour’s Shadow Chancellor, responding to NIESR’s pre-Budget report on the economic impact of Coronavirus and the Chancellor’s likely inability to deliver on investment plans, said:
“This analysis confirms yet again that Coronavirus could have significant economic impacts, making it all the more disappointing that the Chancellor has been silent on any economic plan to respond to the outbreak.
“As well as predicting poor growth under the Tories, the report casts serious doubt on whether the Government will be able to deliver on its investment promises.
“The report recommends that the Government adopts Labour’s public sector balance sheet fiscal rule, suggesting that the only major announcements in this Budget are likely to be ideas copied from Labour as the Government flounders at a time of crisis.”