Labour responds to OECD figures released today

Pat McFadden MP, Labour’s Shadow Chief Secretary, responding to OECD figures released today, said:

“Today’s figures from the OECD are yet more evidence of the Tories’ 12 years of economic failure.

“Next year we will have the lowest growth in the G20 bar Russia. And we are forecast to be the only OECD economy that will be smaller in 2024 than it was in 2019.

“This is the Tory doom loop. A low growth spiral leading to higher taxes, lower investment, squeezed wages and poor public services. And they have no plan to get us out of it.

“Labour has a plan to grow the economy, with a modern industrial strategy that works in partnership with businesses, and a Green Prosperity Plan creating good jobs across the country in the world-leading industries of the future.”