The shadow chancellor says Jeremy Hunt's autumn statement "lays bare the full scale of the damage the government has done to the economy over 13 years". Rachel Reeves says growth "has hit a dead end" and that working people will consider themselves "still worse off". Report by Brooksl. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn
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00:00 We are delivering the biggest business tax cut in modern British history, the largest
00:06 ever cut to employee and self-employed national insurance, and the biggest package of tax
00:12 cuts to be implemented since the 1980sāan autumn statement for a country that has turned
00:18 a corner, an autumn statement for growth, which I commend to the House.
00:22 >>The Chancellor of the Exchequer, Rachel Reeves (Sheldon)
00:37 Thank you, Mr Speaker. Today the Chancellor has lifted the lid on 13 years of economic
00:44 failure. We were told that this was to be an autumn statement for growth, but the economy
00:50 is now forecast to be Ā£40 billion smaller by 2027 than the Chancellor said back in March.
00:59 Growth revised down next year, the year after and the year after that too. The Chancellor
01:07 claims that the economy has turned a corner, yet the truth is that under the Conservatives
01:13 growth has hit a dead end. What has been laid bare today is the full scale of the
01:20 damage that this Government have done to our economy over 13 years, and nothing that has
01:27 been announced today will remotely compensate. Mortgages are rising, taxes are eating into
01:34 wages, inflation is high, prices are still going up in the shops, public services are
01:42 on their knees, and too many families are struggling to make ends meet. As the sun begins
01:48 to set, on this divided, out of touch, weak Government, the only conclusion that the British
01:56 people will reach is this. After 13 years of Conservatives, the economy is simply not
02:02 working, and despite all the promises today, working people are still worse off.
02:09 [BLANK_AUDIO]