Selly Oak MP: Still a Long Journey to Recovery for West Midlands Economy

Steve McCabe MP, Member of Parliament for Birmingham Selly Oak, says that the announcement of 0.6% growth in the economy should be welcomed but that there is a long way to go for the economy as a whole and Birmingham and the West Midlands in particular.

Mr McCabe pointed out that we are on course for the slowest recovery in over 100 years and that so far the Chancellor’s only achievement has been to get us back to almost where we were when he entered government in 2010.

The USA which has pursued the policies which George Osborne abandoned has achieved growth three times greater than the UK over the same period and the Chancellor is on target to borrow more over the life of this parliament than Labour managed to borrow over its entire period between 1997-2010.

Steve McCabe said:

“This is not the time for empty boasts.

“The most recent unemployment figures show real improvement in London and the South East, but the picture is not so good elsewhere and things are still deteriorating in Birmingham and the West Midlands where the latest ONS figures show that the unemployment rate now stands at 9.8%, an increase of 0.7% on the previous quarter.

“This is a very fragile recovery and there is little evidence that our region is benefitting at all. It is an indictment of the policies pursued by the Conservative-Liberal Democrat government. We are seeing a weak London/South East recovery after three years of slump but it’s doing nothing for our young people or our economy”

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