The government has announced today that growth in business investment is down again to 0.2% in Q3. It was 0.8% in Q1, 0.5% in Q2, and now 0.2%.
Liberal Democrat leader Vince Cable said:
“This is a further blow to our hopes of lifting Britain’s flagging productivity. One of the major reasons British productivity is stagnating is because of lack of investment. It is particularly worrying that there has been a fall in investment in IT equipment and machinery.
“While growth and productivity are improving across most of the EU27, Britain has fallen to the bottom of the growth league of major economies. This is in significant part due to the Conservative government’s determination to pursue a hard Brexit, taking us out of the single market and customs union.”