Commenting on the impact on the UK of the fall in Chinese share prices, Chris Leslie, Labour’s Shadow Chancellor, said:

“The Chancellor is too complacent about the impact a slowdown in China and emerging markets might have on the UK, particular for our exporters. Britain’s trade deficit has been consistently poor over the past five years and George Osborne’s promise of a ‘march of the makers’ will fall a long way short of his £1 trillion exports pledge.

“Britain needs a serious strategy to help exporters – this means redoubling efforts to boost productivity, tackling infrastructure obstacles, addressing the skills deficit and ensuring innovators can access the capital they need. The Chancellor shouldn’t just sit back and comment on market turbulence – he needs to take action to counteract the difficulties our exporters are facing.”

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