The derisory offer made by the Chancellor to prison and police officers last month was in reality a pay cut – John McDonnell MP

John McDonnell MP, Labour’s Shadow Chancellor, commenting on the TUC report on public sector pay, said:

“This report by the TUC confirms that the derisory offer made by the Chancellor to prison and police officers last month was in reality a pay cut, as Labour pointed out at the time. It also lays bare in detail the cruelty of the Tories’ public sector pay cap across our public sector, at a time when wages continue to fail to keep up with prices.

“The next Labour government will ensure that our dedicated public sector workers are truly recognised for what they do for their communities by ending the Tories’ public sector pay cap for all public sector workers.”

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The boundary review must benefit our democracy, not just the Conservative Party – Cat Smith MP

Cat Smith MP, Labour’s Shadow Minister for Voter Engagement and Youth Affairs, commenting on the Boundary Commission’s proposals, said:

“Labour stands ready to work with all parties to ensure that a boundary review can go ahead in a way that benefits our democracy, not just the Conservative Party. However it has been clear from the start that the Tories have only been interested in their own political advantage rather than what is in the best interests of the country.

“To lose 50 MPs at a time we are repatriating powers from Brussels as we leave the European Union risks leaving the UK Government struggling to keep up with the day to day requirements of legislation.

“They need to drop their unfair, undemocratic plans, as well as ensuring the review is based on the most up-to-date register and that there is appropriate flexibility to take into account community ties and geography.”

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A no deal Brexit will hit family budgets – Jenny Chapman MP

Jenny Chapman MP, Labour’s Shadow Brexit Minister, commenting on the report by the Resolution Foundation and Sussex University’s UK Trade Policy Observatory on a “no deal” Brexit scenario, said:

“This report is further evidence of how a no deal Brexit will hit family budgets and the potential dire consequences of the Government’s chaotic handling of the Brexit negotiations.

“Britain crashing out of Europe without a deal is simply not a viable option. No deal risks price hikes in the shops as a result of extra charges on everyday items, such as food and drink. And yet, the only solution Ministers have offered to this potential crisis is ‘dig for no deal’.

“Theresa May must use this week’s EU Council meeting to end the deadlock in Brexit negotiations and protect Britain from an economic cliff edge. That means agreeing strong transitional arrangements within the single market and a customs union”.

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Bill Esterson MP, Shadow Minister of State for International Trade, responding to reports that the ONS has revised the UK’s net international investment position downwards by £490 billion said:

 

“Earlier this year the Secretary of State for International Trade boasted of a record number of FDI projects, but today’s figures reveal the truth of what is actually happening under his watch.

 

“The Government certainly is breaking records though – in the last quarter the UK’s deficit in goods exports hit a record high. While Liam Fox repeatedly blames those who disagree with him as “naysayers”, it is his party’s failure to attract investment into the UK or to drive overseas exports that is deterring investors.

 

“Labour have repeatedly warned that depending on the drop in Sterling to boost exports is no substitute for a proper trade strategy. Today’s figures show that the Government is failing to build the confidence in our economy that the country needs to succeed after we leave the EU.”

 

Ends

 

Notes to editors:

 

• Statistics issued by the Department for International Trade on 6 July 2017 show a rise of 2% year on year for the number of FDI projects recorded in the United Kingdom for 2016/17 (‘Inward Investment Results 2016-17’, Department for International Trade, 6 July 2017)

 

2015-16

2016-17

% Change

Total projects

2,213

2,565

2%

Involved projects

1,731

1,859

7%

Total jobs

115,974

107,898

(7%)

New jobs

82,650

75,226

(9%)

Safe jobs

33,324

32,672

(2%)

• 
  This notwithstanding, an analysis of the historical number of FDI projects reveals a stagnating in recorded FDI projects when contrasted to year on year growth over the past five years. DIT’s own figures show a tapering off inFDI projects and a significant decrease in the number of new jobs being created.

2012-13

2013-14

% Change

2014-15

% Change

2015-16

% Change

2016-17

% Change

Total projects

1,559

1,773

13.8%

1,988

12.1%

2,213

11.3%

2,265

2.3%

New jobs

59,153

66,390

12.2%

84,603

27.4%

82,650

(2.3%)

75,226

(9%)

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John McDonnell MP, Labour’s Shadow Chancellor, responding to the CBI’s pre-Budget demands, said:

“Labour welcomes the CBI’s demands on the Chancellor to bring forward vital government investment in infrastructure and research, backed up by a real industrial strategy targeting high-potential sectors. The Chancellor has sat on his hands for the last 15 months and failed to act as productivity and real wages have fallen. There is now a consensus on the action needed to turn our economy round after seven years of Tory failure.

“Only Labour has committed to investing three per cent of our GDP in research and development by 2030, and a plan to deliver infrastructure across the whole country, to secure decent, well-paid jobs in an economy that works for the many, not the few.”

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