Steve McCabe MP concerned for Britain's economic health

Steve McCabe MP (Labour, Birmingham Selly Oak) is concerned for the long term health of Britain afte
The Office of National Statistics released figures today which suggest Britain’s economy grew by a meagre 0.5%.
 
Although the economy grew in Q3, economists are warning people not to expect an imminent economic rebound. Instead, Bank of England policymakers Martin Weale and Paul Fisher argued this week that there is a significant risk that Britain could well sink back into recession.
Steve McCabe said “Meagre growth of just 0.5% is just not good enough for those families struggling to make ends meet. This pales in comparison to the 2.6% growth we saw during the previous twelve months.
“The Government is cutting too quickly and too aggressively. It is no wonder the economy is struggling to grow considering the inevitable impact of spending cuts. 
“George Osborne’s Plan A is bust. The Government will have to borrow £46 billion more than they planned. Who knows what budget will be cut next to compensate?”
Share this
Copyright Steve McCabe MP Click here for a copy of this site's terms and conditions and privacy statement