Government must be more ambitious to save the economy

Responding to this morning’s monthly GDP estimate from the ONS, showing that the economy grew by only 1.8% in May – lower than the 5.5% forecast by economists – Acting Leader of the Liberal Democrats Ed Davey said: “Regrettably this dashes any hope of an early recovery and is bad news for millions of people experiencing real financial hardship. It confirms fears that the Chancellor’s plans just aren’t ambitious enough to rise to the scale of this economic challenge.

Acting Leader Ed Davey

“The way out of this recession is through a serious Green Recovery Plan that will create millions of jobs, tackle climate change and radically reshape our economy.

“Just as crucially, our economy is still threatened by Brexit. If Boris Johnson is serious about rebuilding, he must avert a new crisis by guaranteeing the closest possible trading relationship with the EU.”

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