Speeches sourced from the Labour party’s online archive More…

Angela Eagle MP, Labour’s shadow Chief Secretary to the Treasury,  responding to Oliver Letwin’s comments that Britain faces a “national crisis in the form of less growth and jobs” said: 

“Oliver Letwin has let the cat out of the bag again. 

“With unemployment at a 17 year high and the economy contracting at the end of last year, there is a jobs and growth crisis in Britain. 

“But it’s a crisis of George Osborne’s own making and the government still seems to be in denial. By hiking up VAT and cutting too far and too fast we’re now set for slower growth and higher unemployment in the years ahead. That doesn’t make economic sense because, as the independent Office for Budget Responsibility said last week, the government will now have to borrow £46 billion more over the coming years. 

“Recognising that there’s a problem is a good start. But there’s no point having crisis talks if you then decide to carry on regardless with a reckless plan that is hurting but isn’t working.”

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