Seema Malhotra MP, Labour’s Shadow Chief Secretary to the Treasury responding to the Index of Production figures out today showing a decrease in UK production, said:

“The further decline in manufacturing output shows once again that George Osborne’s faltering recovery is built on sand. He has failed to rebalance the economy. These figures show that manufacturing companies, in particular, are being hit hard by Osborne’s poor long term planning. At the same time he has failed to effectively tackle the tax evasion and aggressive tax avoidance. We need fairness for companies playing by the rules and investment in the infrastructure that British businesses are crying out for.

“This is yet another warning shot to Osborne. The Government must now bring forward a serious industrial strategy to support the high-wage, high-tech industries of the future.”