Chris Leslie MP, Labour’s Shadow Financial Secretary to the Treasury, responding to the Government’s announcements on infrastructure, said:
“This Government is totally failing to deliver on infrastructure. Just 7 out of 576 projects in the Government’s last plan have been completed and 80 per cent haven’t even started construction.
“No infrastructure investment has been brought forward this year or next year, as the IMF has demanded. And for all the hype, the Government is actually cutting investment in real terms by 1.7 per cent in 2015.
“If the Government is finally recognising that long-term investment in infrastructure is good for our economy, they should bring it forward this year and next. We should be building more affordable homes, improving transport links and repairing Britain’s broken roads right now to create jobs, strengthen our economy and get a long-term return.
“We need diggers in the ground right now, not more empty promises.”
On today’s revised GDP figures, Chris Leslie added:
“Any small upward revisions to growth figures are welcome, but the big picture of a flatlining economy over the last three years remains unchanged. In fact, the ONS says the economy still shrank slightly in the first quarter of 2012. And since George Osborne’s last spending review the economy has grown by just 1.1 per cent, compared to the 6 per cent forecast at the time. That’s why living standards are falling and the deficit is not coming down. But there was nothing in this week’s spending review to boost growth this year or next.”<div>