Rachel delivered a massive blow as employers are too scared to recruit

The Chancellor has been warned the economy is “flatlining” as employers have warned Rachel Reeves that they are too afraid to recruit or invest.

This comes as the economy grew by just 0.3% in November, however MPs were quick to note that over the three months this figure is only 0.1%.

Sir Mel Stride, Shadow Chancellor of the Exchequer, said, “This morning’s news that growth is flatlining is more evidence of Labour’s economic mismanagement.

“Growth was just 0.1 per cent in the three months to November, having not grown at all in the previous three-month period. Because Labour made the wrong choices, their Budget is unravelling day by day.

Sir Mel added, “Despite Labour’s U-turns on the Family Farms Tax and Business Rates, their Budget will still leave working people worse off and our economy weaker, with higher taxes stifling growth and fuelling inflation.

“With every U-turn, the Chancellor loses more credibility, and Labour show they do not have a plan.

“Only the Conservatives have a leader with a backbone, a strong team, and a clear plan to build a stronger economy and get Britain working again.”

A Treasury spokesperson said, “To make the economy work for working people, we are reversing years of underinvestment by protecting record infrastructure investment, driving through major planning reform, backing expansion at Heathrow and Gatwick, delivering Northern Powerhouse Rail and getting Sizewell C built.

“At the same time, we are taking action to get bills and inflation down – with £150 off energy bills, rail fares, prescription charges and fuel duty all frozen, the two-child benefit cap lifted, alongside the national living wage to deliver an economy that works for working people.

“There’s more to do – driving growth, delivering the consolidation to provide stability, keeping inflation low and stable, tackling the cost of living and bringing our borrowing costs down.”