Economic Situation

(asked on 5th November 2014) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of a reduction in growth in the Eurozone on economic performance in (a) each region of the UK and (b) the UK as a whole.


Answered by
Priti Patel Portrait
Priti Patel
This question was answered on 17th November 2014

We are one of the most open economies in the world through trade and financial channels. The U.K. isn't immune to weakness in the euro area and instability in global markets, so we face a critical moment for our economy. Despite these headwinds Britain’s long-term economic plan is working, boosting economic security for Britain’s hardworking people. The economy is growing, the deficit is falling and there are record levels of people in work. Unemployment has fallen over the last year in every region of the UK and compared to the same period a year ago, the UK was the fastest growing major advanced economy (G7) in the first half of the year. But the job is not done and the biggest risk now to the recovery would be abandoning the plan that is delivering a brighter economic future.

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