Responding to the Chancellor’s Spring Statement in the House of Commons this afternoon, Leader of the Liberal Democrats Vince Cable said:

“Brexit has crowded the usually significant Spring Statement out on to the margins of relevance, and the Chancellor has managed to make it even more of a non-event.

“Despite continuing austerity for most government departments and a violence epidemic on our streets, the Chancellor announced no meaningful new funding and failed to even confirm a date for the crucial upcoming Spending Review.

“There is little good news in Brexit Britain’s growth record either. While the Coalition Government left the UK one of the best performers among the world’s advanced economies, the OBR’s growth downgrade for this year confirms we are now one of the weakest.

“With interest rates already at rock-bottom, these will not be available to fight any future Brexit recession. The Chancellor is right to warn about the economic damage a no-deal Brexit would cause, but wrong to present his government’s deal as the only alternative.

“In truth the only real “dividend” on offer is that from remaining in the EU, by giving the public a People’s Vote on Brexit.”