My response to today’s GDP figures

Tory claims that the economy is fixed will ring hollow with working people who are still not feeling the recovery. Wages are down by £1600 a year since 2010 and now these figures show a concerning slowdown in economic growth too.

Construction is down again, business investment under this government is lagging behind our competitors and exports are way off target. And the stagnating wages we have seen over the last five years are the reason why the Chancellor has broken his promise to balance the books.

Labour’s economic plan will ensure we have stronger and more balanced growth, create more good jobs and earn our way to higher living standards for all. We will raise the minimum wage, increase apprenticeships, cut business rates, get more homes built and expand free childcare for working parents.

We will cut the deficit every year and balance the books while securing the future of our National Health Service. Unlike the Tories we will get the deficit down in a tough but balanced way – not risk taking public spending back to a share of national income last seen in the 1930s.

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Posted January 27th, 2015 by Ed