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Kerry McCarthy MP, Labour's Shadow Treasury Minister, commenting on today's French GDP figures, said:

"The French economy stagnating over the last three months is obviously cause for concern.

"While these are disappointing figures for France it’s important to note that the French economy has grown by 1.2% over the last nine months while the British economy has grown by just 0.2% in the same period.  The Chancellor needs to recognise that Britain’s recovery was choked off last autumn, and well before the problems of recent weeks.

"Instead of complacently claiming Britain is a safe haven George Osborne needs to realise that tax rises and cuts which go too far and too fast have crushed confidence and seen our economy flatline since last autumn. His reckless and incautious policies have left Britain vulnerable in the face of the global economic problems we are now seeing."

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