Chris Leslie MP, Labour’s Shadow Financial Secretary to the Treasury, responding to today’s GDP revision, said:
“These figures confirm that after three wasted years of flatlining we finally have some welcome but long overdue growth.
“But for all George Osborne's complacent claims that the economy is now fixed, for ordinary people things are getting harder. While millionaires have been given a huge tax cut most people are still seeing prices rising much faster than wages.
“And real risks remain. The Governor of the Bank of England is right to warn that the recovery is weak, and it is the slowest on record.
“So instead of more complacency from the Chancellor, we need action to catch up all the lost ground and secure a strong and sustained recovery that everybody can benefit from.
“Labour would bring forward infrastructure investment now, as the IMF has also demanded. We would help families on middle and low incomes now, including with a 10p starting rate of tax, paid for by a mansion tax. And we would introduce a compulsory jobs guarantee for young people, paid for by a bank bonus tax, to help get the benefits bill down."