We store cookies on your device to make sure we give you the best experience on this website. I'm fine with this - Turn cookies off
Switch to an accessible version of this website which is easier to read. (requires cookies)

Tories' Brexit to blame for 'anaemic' economic growth, downgrading of outlook and loss of iconic manufacturing names.

November 12, 2019 10:45 PM

Cllr Nick Cott"The latest growth figures for the national economy are anything but a cause for celebration. Over the last year, Britain's growth has slowed to its lowest rate in almost a decade - a disastrous performance by the Conservatives, whose main economic policy of Brexit is a promise of yet more slow growth. And the bargain-basement sale of iconic manufacturing names like British Steel in Scunthorpe and Harland and Wolff in Belfast sound the alarm bell for Britain's role in the world economy," says Nick Cott, the Liberal Democrats candidate for Newcastle North.

"The economy under the Tories is anaemic.

"Brexit has already cost us £55-£60 billion in lost growth and will keep us underperforming for years. Just last week the credit rating agency Moody's downgraded the UK's economic outlookis a further indictment of the Tories' economic track record. And looking forward, the Bank of England said growth will be a whole 1% lower in the coming years.

"On the other hand, the extra growth from remaining in the EU would generate a Remain Bonus of over £50 billion. The Liberal Democrats will use that money for a huge cash boost to our schools and education throughout adult life for better skills to tackle inequality.

"Contrary to the 'Global Britain' image that the Conservatives are trying to paint, it's clear that Brexit Britain risks retreating from the world stage and being overtaken by rising economic powers.

"The Liberal Democrats believe that the UK is stronger on the world stage within the EU.

"But Labour would be no better for jobs and working people. Inward investors must be very concerned about their ambivalent atitude to Brexit and their spending plans based on higher taxation and borrowing. Their childcare and lifelong learning announcements are unambitious and sloppy. They fail to grasp the reality for most working people across the country.

"Liberal Democrats have presented workable plans that go further than those set out by the other parties.

"A Liberal Democrats government will provide a £10,000 skills wallet to be used on education throughout adult life. We will also give working parents 35 hours free childcare, from the age of 9 months until 4 years old, the age children start school.

"Supporting adult learning and working parents is key to the Liberal Democrats plan to build a brighter future."