Thursday, September 21, 2017

Vince Cable responds to OECD growth forecast and falling small business confidence

New forecasts by the OECD today that predict UK growth will slow to 1% in 2018, the lowest growth in the G7.

It comes as a survey by the Federation of Small Businesses (FSB) has found the number of small businesses planning to close or downsize is the highest since records began, while optimism amongst small firms has fallen to its lowest level since the EU referendum.

Liberal Democrat Leader Vince Cable commented:

"Brexit is set to turn Britain into the sick man of Europe again.

"One in eight small businesses now plan to close or downsize, the worst level since records began.

"This is economic reality, not political spin.

"Theresa May must change course from an extreme Brexit, to avoid years of lower growth and falling living standards."

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