Shadow Environment Minister Robbie Moore welcomed February’s stronger-than-expected 0.5% GDP growth but warned it “does not take into account” April’s tax rises and business costs. He said there remains “a huge amount of uncertainty” for firms, with hikes in National Insurance, business rates, and the minimum wage now taking effect. Report by Covellm. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00Well of course we welcome any growth figures but the 0.5% relates only to February and the reality
00:05of it is the OPR indicated a reduction in growth this year and of course these figures do not take
00:11into account the jobs tax, the increase in employers slash insurance, minimum wage, business
00:17rates all increasing alongside other uncertainties that will be impacting the wider economy that all
00:24kick in this month so it is right of course to welcome any growth but a huge amount of uncertainty
00:32still exists amongst our wider business community and of course as I say these figures do not take
00:38into account the increase in taxes which impact many businesses this month in April.