Labour is apparently thrilled with the OECD’s assessment of the UK economy, released today. The think tank cut its growth forecasts from 0.9 per cent to 0.8 for 2013 and from 1.6 per cent to 1.5 per cent for 2014, while warning of ‘strong headwinds’ from the eurozone. So Chris Leslie, the Shadow Financial Secretary to the Treasury seized on the report, saying:
‘The OECD has once again cut its growth forecasts for the UK economy, warning that youth unemployment is too high and that weak growth means wages are not keeping up with price rises.’
His colleague Rachel Reeves said it was ‘time for the government to listen and act on growth’.
If you’re the sort of person who gets their news from Labour press releases, you might be dancing around your sitting room shouting ‘Plan A isn’t working!’ and waving a red flag in triumph.
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