Friday 25 May 2018 / 12:27 PM Economy / Jonathan Reynolds

Jonathan Reynolds responds to second estimate of GDP by the ONS

Jonathan Reynolds MP, Labour’s Shadow Treasury Minister, commenting on today’s second estimate of GDP by the ONS, said:

“This second GDP estimate confirms that this is the weakest Q1 growth since 2012 with business investment falling.

“It’s no good for the Chancellor to blame this on bad weather when even the ONS said in their initial estimate that this had a limited impact. The truth is that continued Tory austerity cuts are weakening growth.

“The next Labour government will end austerity and provide the investment vitally needed to kick-start the economy, delivering rising living standards for the many, not the few.”