Angela Eagle MP, Labour’s Shadow Chief Secretary to the Treasury, said in response to Ken Clarke’s comment on the Daily Politics today that the economy faces ‘a difficult two or three years before we get back to normality’:
“Ken Clarke’s warning of several difficult years ahead is in sharp contrast to David Cameron and George Osborne’s complacency.
“Their boasts before Christmas that Britain was recovering and out of the danger zone are looking pretty hollow now that the economy has ground to a halt and both unemployment and inflation are rising.
“When Labour left office inflation was low, unemployment was falling and economic growth was strengthening. But after George Osborne’s budget and spending review the economy has taken a turn for the worse and that’s before the VAT rise and the bulk of the spending cuts have kicked in.
“Cutting too deep, too fast is not the best way to get the deficit down. George Osborne must stop burying his head in the sand, rethink his reckless plan and start putting growth and jobs first.”