Tuesday, 26 October 2010

Labour Repeat Warning That Spending Cuts Could Damage Recovery


The Chancellor, George Osborne, was upbeat today following the release of new figures showing that the economy is continuing to grow steadily. 

However Labour were quick to point out that these statistics proved that their strategy of continuing to invest in the economy during their last months of power was continuing to bear fruit and any forthcoming spending cuts would reverse this. 

Shadow Chancellor, Alan Johnson expressed deep concern that Government plans to cut one million jobs would put enormous strain on the private sector, as these positions would not necessarily be replaced.

I'd say it is highly likely that any increase in growth and the accompanying optimism now is bound to be replaced by a huge drop in productivity followed by a long period of recession and deep economic hardship.

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