Anneliese Dodds – 2020 Comments on Bank of England Economic Outlook

The comments made by Anneliese Dodds, the Shadow Chancellor of the Exchequer, on 6 August 2020.

Today’s assessment by the Bank of England shows that this is a critical moment for our economy. A short-term, post-lockdown rise in spending sits alongside a much more uncertain long-term picture of very low levels of business investment and the prospect of a sharp rise in unemployment.

The Government has still not got a grip on the health crisis and we won’t recover from this economic crisis until it does. That means fixing test, trace and isolate to give people the confidence they need to go back out and get spending again.

And the Chancellor is still ploughing on with his one-size-fits-all approach to withdrawing income support, despite calls from businesses to think again. If he won’t, the recovery will be stopped in its tracks and the jobs crisis Britain faces will get much worse. It’s not too late to change course.