Portsmouth South MP Stephen Morgan has said the Government’s Spring Budget is lacking in the vision and ambition that is needed for Portsmouth and the country to reach it’s potential.
Mr Morgan said a long-term vision was needed from Chancellor Jeremy Hunt today (15 March). But after 13 years of economic mismanagement and sticking plaster politics under the Conservatives, today’s Budget only papered over the cracks.
Since 2010 the UK has grown more slowly than its peers. Wages are also lower in real terms now than in 2010.
Out of the 38 countries in the OECD British average growth of 1.4% is ranked 29th, behind countries including Mexico, Germany and the USA.
Keir Starmer has set out first mission in government will be to secure the highest sustained growth in the G7, with good jobs and productivity growth in every part of the country – making everyone, not just a few better off.
Labour will achieve that with its Green Prosperity Plan, an active partnership with business, and modern Industrial Strategy – all built on the rock of economic responsibility.
The Party will get more people back into work too, by localising employment support, opening up Jobcentres and targeting help to those stuck outside the jobs market.
The Member of Parliament for Portsmouth South, Stephen Morgan MP, said:
“In every town and city in our country, in every community, there is so much on offer. But 13 years of Tory economic mismanagement has left us lagging behind.
“Our city and country were crying out for a long-term plan today. But instead we saw a budget without any ambition or vision for Britain or Portsmouth.
“Labour’s mission to secure the highest growth in the G7 will make us lead the pack again”
Rachel Reeves MP, Labour’s Shadow Chancellor, responding to the Budget, said:
“This Budget was a chance for the government to unlock Britain’s promise and potential.
“But instead they decided to continue papering over the cracks of 13 years of economic failure.
“The only surprise was a handout for the richest 1% and their pension pots.
“Growth was downgraded in this Tory Budget, but Labour will not allow us to keep bumping along this path of managed decline.
“With our mission to secure the highest sustained growth in the G7, we will create good jobs and productivity growth across every part of our country.
“Where the government has thrown in the towel, Labour will build a better Britain.”
