Responding to the GDP figures released today, Leader of the Liberal Democrats Vince Cable said:
“To see the economy shrink by 0.4% – the biggest one-month fall in 3 years – just shows the extent to which the Conservative Government are damaging our economy. It was only being kept going by stock piling for a No Deal Brexit.
“While business wants reassurance, the last three months demonstrate the immense uncertainty facing businesses, particularly those in export activities. Economically illiterate proposals being touted by the candidates hoping to take over from Theresa May signal that the Tories have abandoned any sense of fiscal responsibility.
“The Conservatives were warned by Donald Tusk not to waste this time. Yet they continue putting party before country, causing more uncertainty in the process which threatens people’s livelihoods right across the country. A new Conservative leader cannot change the parliamentary arithmetic, nor the facts of the negotiations.
“The only way out of this mess now is a People’s Vote and I hope that the successful Tory candidate, whoever it is, will soon embrace that reality.”
The car industry’s own figures suggest that the number of cars produced in the UK are down 45% from this time last year.
Construction also shrank by 0.4%, while the services sector and agriculture experienced no growth whatsoever.