John
McDonnell MP, Labour’s Shadow Chancellor, commenting on the Institute
for Global Prosperity’s report on Universal Basic Services, said:

“Rapid
technological changes are a profound challenge for our economy and society.
This report offers bold new thinking on how we can overcome those challenges
and create an economy that is radically fairer and offers opportunities for
all.

“It
makes an important contribution to the debate around Universal Basic Income,
and will help inform Labour’s thinking on how we can build an economy that
truly works for the many not the few.”

Barry Gardiner MP, Labour’s Shadow Secretary of State for International Trade,
commenting on today’s ONS Overseas Trade Statistics, said:

“Today’s record widening of our trade deficit by 36.7 per cent shows we
have a government ill-prepared for the global trading economy post-Brexit.

“The Tory approach of depending on ad hoc commercial deals and the
depreciation of Sterling is not a trade strategy.

“Yesterday’s Trade White Paper has not helped business or moved the
situation on. It contains broad platitudes but no serious detailed proposals
for integrating trade and industrial strategy or for trade defence measures.

“Only Labour has a consistent trade policy integrated with our
industrial strategy that will protect and expand jobs as well as improving
social and environmental standards.”

John
McDonnell MP, Labour’s Shadow Chancellor, commenting
on the IMF’s report out today, said:

“The
IMF report out today is yet another blow to the Chancellor’s already crumbling
economic credibility – it is no wonder many of his fellow colleagues in his own
party are calling for him to be sacked.

“With
nearly all other advanced economies recovering at a faster rate than the UK, alarm
bells should be ringing at the Treasury. Philip Hammond’s plans to continue the
austerity policies of his predecessor are failing.

“The
IMF’s confirmed downward revision to the UK’s growth has also made clear that
seven years of Tory economic failure has left our economy fundamentally
weakened. On a day when other worrying data and reports have been published
highlighting the failure of Tory austerity, this directionless Chancellor needs
to follow Labour’s lead and urgently change course.

“The
next Labour government will provide the proper investment our country needs,
underpinned by our Fiscal Credibility Rule, to build a high wage, high skill
economy for the many not the few.”

Jonathan Ashworth, Labour’s Shadow Health
Secretary, responding to Jeremy Hunt’s claim in the House of
Commons that the NHS pay cap has been lifted, said:

“The Secretary of State tells the Commons
the NHS pay cap’s been lifted but he cannot say whether this is going to come
from existing budgets or not. It looks like hospitals will be forced to cut
other services to find the funds.

“Jeremy Hunt is trying to face both ways on
NHS pay and it just means even more uncertainty. While the Government dithers,
staff continue to leave the NHS and patients continue to be at risk from short
staffed services. 

“There has still been no confirmation of
any of this from the Treasury. The Government need to immediately confirm that
extra funding will be provided to lift the NHS pay cap so that all staff can
benefit from a long overdue pay rise.”

Ends

John McDonnell MP, Labour’s Shadow
Chancellor,
commenting on the OBR’s Forecast evaluation report out today, said:

“Today’s report by the OBR is a
damning indictment of the last seven years of Tory economic failure. We need no
more proof that their austerity approach has failed to boost living standards
or improve the long-term potential of the UK economy.

“Next month’s Budget cannot be
another exercise in kicking the can down the road by Philip Hammond, we need to
see substantial action.

“On a day when figures on
construction published by the ONS show warning signs ahead for our economy, the
mounting evidence for a change of direction from the Chancellor couldn’t be
clearer.

“This OBR report supports Labour’s
argument that weak investment is at the centre of our economy’s problems and
has damaged productivity growth.

“The next Labour government will
provide the proper investment our country needs. Our industrial strategy,
National Transformation Fund and £10ph Real Living Wage stand in stark contrast
to the Tories’ inactivity, and will help Labour build a high wage, high skill
economy for the many not the few.”