Steve Beasant

Liberal Democrat Prospective Parliamentary Candidate for Great Grimsby and Councillor for the East Marsh Learn more

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Vince Cable: Fall in UK productivity worsened by Brexit uncertainty

by Steve Beasant on 7 October, 2017

Commenting on the news that UK productivity fell by 0.1% between April and June 2017, following a 0.5% fall the previous quarter, Liberal Democrat Leader Vince Cable said:

“It is deeply worrying that for the second quarter in a row, workers are producing less, not more, per hour.

“Without productivity improvements, we will struggle to compete on the world stage and generate some much-needed wage growth.

“This fall in productivity must be seen in the context of the uncertainty caused by Brexit, which is already causing business investment to stall.

“Yesterday we found out that the Treasury are expecting a “budget bloodbath” because of downgrades to the UK’s future productivity, meaning less funding available for our schools, hospitals and infrastructure.

“If we are to avoid a scenario in which Britain becomes permanently poorer, the Government must put the economy first by committing to staying in the Single Market and Customs Union.”

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