Dismal economic figures result of Tory incompetence – John McDonnell

John McDonnell MP, Labour’s Shadow Chancellor, commenting on GDP falling by 0.2% in Q2 2019, said:

“Today's dismal economic figures are a direct result of Tory incompetence. The Tories’ Brexit bungling, including Boris Johnson now taking us towards no-deal, is breaking the economy.

“The Tories are responsible for tumbling business investment and stagnating productivity – and that, along with nine years of austerity, has contributed to GDP contracting today.

“It’s time for an end to this incompetence from successive Conservative governments – we need a general election and a Labour Government to turn this country around.”

Ends

Notes to Editors:

·         In Q2 2019 GDP fell by 0.2% : https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/gdpfirstquarterlyestimateuk/apriltojune2019

·         Production output also contracted by 1.4% in Q2 2019, the largest decline since Q2 2012, with manufacturing output falling by 2.3%