Growth figures are an ‘utter failure’ for government
Responding to the latest GDP figures, Lord Frost, director general of the Institute of Economic Affairs, said: “Whatever the government’s growth strategy may be, it isn’t working. The economy has virtually stalled since the spring. And GDP per head is falling again: if you feel poorer, it’s because you are.
“This is an utter failure for a government that is so vocal about prioritising growth. They need to act quickly to turn this around. That means at the very least to stop sliding in the wrong direction with growth-damaging measures like business tax rises and the Employment Rights Act. The tax and spending burden needs to fall, and massive deregulation and supply-side reform is required to unlock our economy and get Britain growing again.”