GDP stats: No sugar coating economic damage of Covid and EU trade deal

Responding to estimate figures released this morning showing that the UK’s GDP contracted by 1.5% in Q1 2021, Liberal Democrat Treasury Spokesperson Christine Jardine MP said: “There is no way of sugar coating the clear damage to the economy that these figures demonstrate.

Christine Jardine MP

“The combination of Covid and the difficulty businesses face in dealing with the new EU trade deal have created a perfect storm for the economy.

“This demonstrates again the need for the extension and reform of business support to avoid a damaging cliff edge in September. It’s not good enough for the Chancellor to claim he has built business confidence – we need to see real actions, such as the extension of the Furlough scheme and a NICs cut for small businesses.”

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