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McDonnell responds to austerity’s impact on incomes

John McDonnell MP, Labour’s Shadow Chancellor, responding to New Economics Foundation report showing that austerity has suppressed incomes and spending by more than £3,600 per household in 2018-2019, said “Austerity has torn apart the fabric of our society, and this new work by NEF shows just how damaging its impact has been over nine years.

“The effect of cuts has grown over time, meaning we’ve now lost £100 billion because of this Government’s cruel political choices.

“With each household deprived of more than £3,600 in this year alone, we can see just how much austerity has wasted the potential for growth – and wounded us all as a community.”