Osborne is on course to miss his only remaining target for the economy - John McDonnell
John McDonnell MP, Labour’s Shadow Chancellor responding to today’s ONS public sector finance figures that show public sector net borrowing and debt have gone up higher than the OBR forecast, said:
“The
latest figures for public sector borrowing show George Osborne is on course to
miss his only remaining target for the economy, with the Tory Government’s
deficit significantly higher than forecast. Government debt is rising even as
unemployment increases and exports slump.
"This is a record of further failure from the Chancellor of the Exchequer.
His recovery is built on sand and his unaffordable and counterproductive fiscal
targets mean that failures will continue. Labour’s Fiscal Credibility Rule
would set a realistic target to get rid of the deficit on day-to-day spending
whilst allowing government the capacity to invest in the high-tech, high-wage
economy of the future.”
