Angela Eagle, Labour’s Shadow Chief Secretary to the Treasury, said in response to the British Chambers of Commerce Economic Survey:
“Our economy should be growing strongly this year so these are disappointing findings. In the first quarter of this year the economy should not just be making up all the lost ground from the end of last year but growing strongly on top of that.
“A year ago, before George Osborne ripped up our plan to halve the deficit steadily over four years, the economy was starting to grow strongly and unemployment was falling. Now that the government is cutting further and faster than any other major economy in the world, growth is forecast to be much lower this year and next year and unemployment higher.
“This is a vicious circle because this slower growth and lost jobs means the government will now have to borrow £46 billion more than planned. So George Osborne’s plan to cut too deep and too fast isn’t just hurting families and frontline services, it also isn’t working. He needs to think again before it’s too late.”