The Chancellor 's response to May 2023's GDP is below:
Chancellor of the Exchequer, said:
“While an extra Bank Holiday had an impact on growth in May, high
inflation remains a drag anchor on economic growth.
"The best way to get growth going again and ease the pressure on
families is to bring inflation down as quickly as possible. Our
plan will work, but we must stick to it.”
MP, Labour’s Shadow
Chancellor, responding to news that GDP fell in May and
showed no growth in the last three months, said:
"This Tory government seems determined to march us down a path of
low growth and economic insecurity.
"There is no reason, given the hard work and the talent of the
British people, that they shouldn't be getting our economy
growing.
"Instead, growth is down again, families are worse off and
the impact of the Tory mortgage bombshell is reaching far and
wide.
"Labour will restore financial and economic security and get our
economy growing, so we can move forward into the opportunities of
the future that Britain deserves."
Commenting on today’s (Thursday) GDP figures, which show that GDP
fell in May and showed no growth in the last three months, TUC
General Secretary Paul Nowak said:
“The UK is crying out for a credible economic plan to boost
growth, jobs and pay. But instead, we are stuck in a Tory doom
loop.
“The government’s default answer to everything is to make working
people poorer.
“Ministers should take responsibility for the mess they have
created – rather than forcing workers to pay the price.
“Setting the UK on course for another recession is reckless and
the last thing the country needs.”
