The Bank of England Inflation has released its latest financial report.
Commenting on its contents Cllr Stephen Morgan, the local candidate for Portsmouth South in the general election next month said:
“This latest downgrading of growth, earnings and productivity forecasts and upgraded inflations forecasts, is more bad news for our living standards under the Tories”.
These forecasts from the Bank of England come on the back of disappointing growth for the first three months of the year and downgraded forecasts from leading independent forecasters for the UK economy.
“Lets be absolutely clear. The Tories’ failed economic plan is holding our country back. It’s holding our city back. It’s undermining our economy and threatening people’s living standards”.
This election is a choice between a Labour who will stand up for the many in all our communities or a Tory Party which only looks after the few.