Figures released today (Friday) show the UK economy shrank in the second quarter, its worst performance in six and a half years, and the pound plummeted to a five-year low against the euro.
Commenting Daniel Zeichner MP said: “Today’s dismal economic figures are a direct result of Conservative incompetence. Boris Johnson’s reckless rhetoric and the threat of a no-deal Brexit is breaking Britain.
“As people go abroad for their Summer holidays they can see the pound in their pocket buys a lot fewer euros. Multiplied up this is causing terrible times for some businesses.
“Cambridge’s prosperity is not a given, and past success is no guarantee for the future. This government needs to get a grip on tumbling business investment, stagnating productivity and unnecessary austerity before a darkness descends and Britain enters a recession.”