Economic growth shows that long-term Tory plan is working, says Osborne
The Office for National Statistics (ONS) has revealed that gross domestic product (GDP) increased by 1.9% between 2012 and 2013.
Speaking in the House of Commons today, chancellor George Osborne said: “These numbers are a boost for the economic security of hard working people. Growth is broadly based, with manufacturing growing fastest of all.”
The ONS revealed that the largest contribution to the increase came from the production sector, with manufacturing increasing by 0.9%.
Osborne said that these figures are “more evidence that our long-term economic plan is working”.
Osborne was adamant he would be sticking to the government’s economic plan.
“The job is not done and it is clear now that the biggest risk now to the recovery would be to abandon the plan that is delivering jobs and a brighter economic future,” he said.
Shadow chancellor Ed Balls was less hopeful for the future. “Today’s growth figures are welcome and long overdue after three damaging years of flatlining,” he said, adding “for working people facing a cost-of-living crisis, this is still no recovery at all”.