Market turmoil: Chancellor should cancel China trip for emergency growth statement

EMBARGO: Immediate Release

Liberal Democrat Leader Ed Davey has called on the Chancellor to cancel her trip to China and instead make an emergency fiscal statement to Parliament cancelling the national insurance hike planned for April, to boost economic growth and bring interest rates down.

Liberal Democrat Leader Ed Davey said:

“Instead of jetting off to China, the Chancellor should urgently come before the House of Commons to cancel her counterproductive jobs tax and set out a real plan for growth.

“The country is paying an ever-higher price for the total mess the Conservative Party made of our economy, and the Chancellor needs to realise that she’ll never dig us out of this hole without a far more ambitious plan to grow our economy, including rebuilding trade with Europe.

“The Government’s misguided jobs tax is hurting businesses and hitting investment badly, meaning it will hold back growth while failing to raise the funding the Chancellor claims for the NHS.

“The Chancellor should look instead at our plans to raise revenue without hitting jobs and growth, by raising taxes on the profits of the big banks, social media giants and online gambling firms – all of which are making eye-watering profits while ordinary families struggle.”

ENDS