UK economy at near-standstill as uncertainty over the budget and high interest rates weighed on consumer spendingThe Liberal Democrats are campaigning today about the Labour government decision to extend the England bus fare cap for another year, but to raise the cap 50% from a maximum from £2 to £3.Transport spokesperson Paul Kohler told listeners of Times Radio that the government could easily find the money to keep the cap at £2, saying:The costs are pretty marginal. We could easily fund that by reversing the Tory tax cut on banks, or by taxing social media companies properly. And most importantly, we need to grow the economy.We are talking about a 50% increase in costs. So if you use a bus going to work every day in a rural area, it’s adding £600 a year to your costs. And remember, the most vulnerable in society use buses. They are the people who suffer from this.This Labour government has done nothing but trash talk the British economy, British business, and British workers since coming to power – and then topped it off with the most ant-business budget in decades. The inevitable result: slower growth.Unfortunately the nerves and angst post-budget don’t bode well either. The Labour budget of broken promises also disproportionately affects women’s employment, female led small businesses and impacts single parents opportunities.This is a must do better moment for this feeble Government – for our economy – as we all simply can’t afford Labour and our public services will suffer if we buckle under low growth and out of control borrowing. Continue reading…
Source link : https://www.theguardian.com/politics/live/2024/nov/15/gdp-rachel-reeves-growth-figures-uk-politics-live
Author : Martin Belam
Publish date : 2024-11-15 09:51:51
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Reeves ‘not satisfied’ with growth as Tories accuse Labour of talking down economy – UK politics live
