UK economy now slowest growing advanced economy in the world

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Plaid Cymru has responded to the Chancellor’s Spring Statement, criticising the Chancellor for celebrating the UK economy’s position as the slowest growing advanced economy in the world.
Carmarthenshire MP and Plaid Cymru's Treasury spokesperson, Jonathan Edwards, called for Wales to take control over its own economy and for Welsh job-creating levers to be devolved to Wales.
 
Plaid Cymru’s Treasury spokesperson, Jonathan Edwards MP, said:
 
“The miniscule growth lauded by the Chancellor is a faint consequence of global growth. The reality is that the UK economy is now the worst performing advanced economy in the world.
 
“While the Chancellor is celebrating 1.7% growth over the last year, and even lower growth in every year until 2022, the Republic of Ireland is growing by more than 7% a year. Growth in Wales will be around 1% - shackled as we are to Brexit Britannia.  The result is that Welsh citizens have, and will continue to have less money and a poorer standard of living.
 
“Westminster-rule is failing Wales and the only solution is to empower the Welsh Government with all the job creation levers possible.
 
“The UK Government’s own analysis has shown that their reckless decision to drag us out of the Single Market and Customs Union will cut up to a further 10% off our economic output, which the Chancellor’s statement did not take into account. Leaving these economic blocs will leave no excuse to hold control over Welsh taxes in Westminster.
 
“Corporation Tax, Income Tax, VAT and Air Passenger Duty must all be devolved to Wales to create wealth for our people.”

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