"Ahead of next month's budget, I am confident that the foundations of Britain's economy remain strong. Since the election, we have seen interest rates cut five times, three trade deals struck with some of the world's biggest economies and wages rising faster than inflation. Tens of billions of pounds of investment has been secured, with business after business choosing Britain as a beacon of economic stability and success in a more dangerous world."
"You never hear those on the right of British politics championing these successes. They are determined to talk of an economy that is broken because that is the only way their politics can breathe. They talk of a Britain that is in a permanent state of decline because that is the height of their ambitions for it. I reject both claims."
Foundations of Britain's economy remain strong, with five interest rate cuts since the election, three trade deals with major economies, and wages rising faster than inflation. Tens of billions of pounds of investment has been secured, with businesses choosing Britain for economic stability amid greater global danger. Critics on the right characterize the economy as broken and in permanent decline. Many working people feel the economy is unfair, with cost-of-living pressures on family budgets. Global uncertainty is pushing up borrowing costs. Productivity performance since the financial crisis has been too weak. The Office for Budget Responsibility will report on long-term productivity at the next budget.
Read at www.theguardian.com
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