John McDonnell MP, Labour’s Shadow Chancellor, responding to the ONS figures showing that national debt has increased to 80.5% of GDP, and the deficit for October is the worst it has been in six years, said:

“These are very disappointing figures for the Chancellor which once again show the difficulty he’s facing in meeting his own fiscal targets.

“In the Spending Review on Wednesday George Osborne needs to start being more honest with the British people and admit his political choice to impose austerity cuts was the wrong one to make.

“Rather than playing political games, George Osborne simply needs to reverse the tax credit cuts, fairly and in full, and offer a real commitment to invest in Britain’s future through science, skills and world-class infrastructure.”