Skip to main content

Osborne urged to boost feeble growth

CUTS-OBSESSED Chancellor George Osborne was urged to change course yesterday as figures revealed growth has slowed down for the fourth month in a row.

Mr Osborne had hoped that the first gross domestic product (GDP) figures since the general election would show growth moving upwards.

But the Office for National Statistics confirmed that it had increased by just 0.3 per cent in the first three months of 2015, half of its rate in the fourth quarter of last year.

Growth has now slumped continuously for the past five quarters and this was the worst performance since the end of 2012.

TUC general secretary Frances O’Grady said: “With growth so weak, the Chancellor’s plans to hit the economy with extreme cuts could plunge it into deeper trouble.
“The government must think again, because its economic plan is failing.

“The economy urgently needs a new plan for growth, based on the strong foundation of investment in infrastructure and good jobs with decent pay.”

OWNED BY OUR READERS

We're a reader-owned co-operative, which means you can become part of the paper too by buying shares in the People’s Press Printing Society.

 

 

Become a supporter

Fighting fund

You've Raised:£ 9,899
We need:£ 8,101
12 Days remaining
Donate today