Wales will feel effects of recession for long time to come

Plaid Cymru – The Party of Wales.

Tuesday, January 26th, 2010 – for immediate release

Wales will feel effects of recession for long time to come

“We should be worrying about people and communities – not markets”
Threatened cuts to public spending will undermine the recovery in Welsh communities, despite news today that Britain’s economy has finally started to grow again. That was the warning from Plaid’s Jonathan Edwards who is the party’s candidate in Carmarthen East and Dinefwr in the UK general election. Mr Edwards warned that the experience of previous recessions indicates that the human costs continue to accelerate after a return to economic growth.

Plaid’s candidate for Carmarthen East and Dinefwr, Jonathan Edwards said:

“We know from bitter experience that the impact of recession on the communities of Wales endures far beyond the recession itself. The human cost of the Tory recession of the 90s, is still being felt in many Welsh communities now.

“I am deeply concerned that the scars of this latest recession will run even deeper in Welsh communities. We know that quarter of all Welsh households live in fuel poverty and the latest child poverty figures indicate a devastating increase in Wales.

“From peak to trough the UK has lost 6% of its economic output in the longest lasting recession since records began. The paltry increase announced today is hardly a cause for celebration. This will not be a V or even a U shaped recession. We are looking at prolonged stagnation at best.

“The consensus amongst the London parties to cut public spending after the General Election is likely to be hugely damaging in public sector reliant economies such as ours. We could very well be looking at a double dip recession once the floorboards beneath the economy are removed.

“While Labour will try and portray the latest figures as a return to ‘prosperity’ and that Gordon Brown has saved the day – our focus will never waver from the job of putting in place the sort of policy intervention needed to deal with the problems faced with ordinary people – be that in terms of dealing with debt problems, home repossession problems or unemployment as the human cost of the downturn gathers pace.

“Our priority as always will be the communities and people of Wales, not the City and Markets based obsession of London Labour.”

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