To ask the Chancellor of the Exchequer to make a
statement on the IMF Economic Outlook
Mr Speaker, Britain has huge potential.
But 13 years of Tory failure has been a drag anchor on
prosperity.
Today’s IMF assessment holds a mirror up to the wasted
opportunities.
It is not a pretty sight.
The UK is the only major economy forecast to shrink this year.
Weaker growth compared to our competitors for both of the next
two years.
The World upgraded, the UK downgraded.
Growth even worse than sanctions hit Russia.
The IMF chief economist singles out higher mortgage rates as a
reason for Britain’s poor performance.
The Tory mortgage penalty is devastating for family finances and
is holding back our economy.
And British business are paying the price for the gaping holes in
the Tories’ Brexit deal.
It will fall to Labour to clean up this mess.
If the Chancellor had ideas, answers or courage - he would be
here today. But he is not.
The question people are now asking is this:
Are me and my family better off after 13 years of Tory
government?
The answer is no.
And as the IMF show today – it doesn’t have to be this way.
I’m sure the Minister will clutch at straws and say that this is
fine or that the IMF are simply wrong.
But can he explain why the UK is still the only G7 economy that
is smaller than before the pandemic?
Why is the UK the only G7 economy with its growth forecast
downgraded this year?
Why are we at the bottom of the league table both this year and
next?
And can the Minister answer: why should anyone trust the Tories
with the economy ever again?
