Trade And Production Figures Reflect Deep Structural Problems In Economy
12.00.00am GMT Tue 11th Mar 2003
Commenting on this morning's Index of Production and trade figures showing that manufacturing is still in recession and the trend trade deficit still widening, Matthew Taylor MP, Liberal Democrat Shadow Chancellor, said:
"With manufacturing still mired in recession and the trade deficit widening, Britain is performing worse than our major competitors in may areas."
"This reflect deep structural problems in the economy, with investment plummeting and jobs threatened."
"Gordon Brown likes to blame the rest of the world for our economic problems, but the evidence is clear that his red tape, tax complications, and a history of an overvalued pound have left us trailing the world."
"The Chancellor needs to take urgent action in the Budget to help British business or he will not have the money he needs for investment in health and education."
ENDS
Notes to editors
1. Manufacturing output in January was up 0.3% on the month. In the latest quarter it was down 0.5% on the previous 3 months, and 0.9% on the same 3 months a year ago.
2. Manufacturing output in January was still below 1995 levels.
3. Revisions to manufacturing output figures have lowered levels of output for October and December (November figures were unchanged).
[Print this story]
[Previous story]: EU Not To Blame For Chancellor's Inaction On UK Economy (Mon 10th Mar 2003).
[Next story]: World Bank Should Handle Iraq Reconstruction Not US Companies Alone (Wed 12th Mar 2003).
[Other news stories from March 2003 (25)]
Related News Stories:
Wed 30th Jun 2004:
[GDP Figures: Manufacturing Decline A Bad Omen For The Economy - Cable]
Thu 8th Apr 2004:
[Latest Trade Figures Confirm Imbalanced Economy]
Mon 5th Apr 2004:
[Falling Manufacturing Figures Reveal Imbalanced Economy]
Tue 10th Feb 2004:
[Trade Figures Show Imbalance In Economy]
Tue 9th Sep 2003:
[Trade Figures: 10% Export Slump Masked By Narrowing Deficit]
Mon 11th Aug 2003:
[Taylor Comments On Trade Deficit Figures]
Wed 30th Jul 2003:
[Sales Figures: Booming High Street Can't Carry Economy Forever]
Wed 11th Jun 2003:
[New Trade Figures Highlight Volitility Of Pound]
Tue 10th Jun 2003:
[NEW TRADE FIGURES HIGHLIGHT VOLITILITY OF POUND]
Printed and hosted by Prater Raines Partners, 16 Riviera Court, Sandgate High Street, Folkestone CT20 3RP.
Published and promoted by Liberal Democrats in Business, 4 Cowley Street, London SW1P 3NB.
The views expressed are those of the party, not of the service provider.
|