Labour: Economic situation is ‘worse than we thought’

ODN

Labour claims the Conservative Party left the economy in an “even worse” position than they thought as there were several “major unfunded spending pressures”. Labour’s Pat McFadden said, “the Tories knew more about the public spending situation than they were telling the public”.    Report by Ajagbef. Like us on Facebook at http://www.facebook.com/itn and follow us on Twitter at http://twitter.com/itn

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00:00Well we knew at the election that we'd inherit a difficult economic situation but in the few

00:06short weeks since then we've discovered that it's even worse than we thought,

00:10that there are a number of major unfunded spending pressures on things like the asylum

00:16and immigration system, on public sector pay, on other areas of the budget and that means that the

00:23Chancellor is going to make a statement this afternoon setting out the whole picture to the

00:28public and to Parliament about exactly what we've discovered since we took office at the beginning

00:33of this month and that shows you that the Tories knew more about the public spending situation

00:39during the election than they were telling the public.

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