'Only the private sector can save us from recession'

LABOUR has given up on its “growth mission” so it falls to the private sector to save the UK from recession, it was claimed amid alarm at the shrinking economy.

- BY DAVID WILLIAMSON Chief Political Commentator

It contracted by 0.1% in October, when growth had been expected. This has fuelled expectations the Bank of England will cut interest rates on Thursday, but has also intensified calls for a change in direction.

Callum Price, from the Institute of Economic Affairs think-tank, said: “The government has entirely given up on its growth mission, but it shouldn't have.”

He urged ministers to “double down” on planning reform but to axe the turbocharging of workers’ rights: “We need the private sector to save us from recession.”