Irish GDP figures are a stark warning to coalition government, says Ed Balls

Responding to figures today showing national output in Ireland falling by 1.2 per cent in the second quarter of this year, Labour leadership contender Ed Balls said:

“These figures are a stark warning to governments across Europe including our own. An austerity programme of deep cuts now, when our economic recovery is not secure, risks lower growth and higher unemployment.

“That is not a credible economic strategy because lower growth and fewer people in work and paying taxes ultimately leads to a bigger deficit not a smaller one.

“As I have argued, we must challenge the idea that the coalition’s ideological and reckless cuts are unavoidable and set out a credible alternative which puts jobs and growth first with a steadier deficit reduction than the counter-productive cuts the coalition is forcing through.”

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Posted September 23rd, 2010 by Ed's team

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