Autumn Statement

Part of Business of the House – in the House of Commons at 12:05 pm on 5 December 2013.

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Photo of Michael Meacher Michael Meacher Labour, Oldham West and Royton 12:05, 5 December 2013

How can the Chancellor conceivably claim that this recovery is sustainable when business investment is still 25% below the pre-crash level, when only 0.1% of the 0.8% growth in the last quarter came from business investment, when productivity is one of the lowest in the OECD, when real wages have fallen 7% and are still falling, and when exports have still not taken off, despite the 25% fall in the exchange rate, and the deficit on traded goods is still likely to be in excess of £100 billion this year?