Pat McFadden comment on new GDP figures

Pat McFadden, Shadow Chief Secretary to the Treasury, commenting on new GDP figures which show that Britain's economy is still lagging behind the US and is only just getting back to pre-pandemic levels, said:

"The UK suffered the worst economic crisis of any major economy, and now the cost of living crisis means our economic recovery is at risk.

"Inflation is hitting working people and weighing on growth. We need urgent action for a stronger economy to achieve prosperity in every part of the country.

“Labour would use our recovery to create a more secure economy by spending wisely, taxing fairly, and getting the economy firing on all cylinders. 

"All around the country households are wondering how they will pay the bills this year.  The Government has no plan to help them with the cost of living crisis they are facing.”

Ends

Notes to editors:

• USA real GDP in Q3 2021 was 1.4% higher than the pre-pandemic peak in Q4 2019: https://fred.stlouisfed.org/series/GDPC1