These figures are deeply worrying, and are further proof that seven years of Tory austerity has resulted in abject failure – John McDonnell

John
McDonnell, Labour’s Shadow Chancellor, commenting on the
latest retail figures from the British Retail Consortium showing a slowdown in
sales, said:

“These
figures are deeply worrying, and are further proof that seven years of Tory
austerity has resulted in abject failure. Wages are still lower than they were
in 2010. The Tories have no plan to tackle the fact that prices are rising
faster than wages. This is leading to living standards
being squeezed and working families being hit the hardest, with the impact now
reaching the high street.

“Growth is
slowing, retail sales are down, business investment and wages are falling back.
Under the Conservatives the economy is neither strong nor stable. And a
vote for the Tories on Thursday is a vote for more of the same, and no solution
to the problems their economic policies are clearly creating for our economy,
and working households.

“Only a Labour Government will
take the action needed to end the Tories’ economic failure by introducing
a Real Living Wage of £10 an hour, and by investing
in an economy that works for the many, while the
Tories are only prepared to protect big business and a wealthy few.”