The shadow business secretary has called on Chancellor Rachel Reeves to "change course quickly", after new ONS figures show inflation increased to 2.6% in November. Andrew Griffith adds all the major economic metrics, such as inflation and growth, "are going in the wrong direction", and fears what four years of a Labour government will do to the UK economy. Report by Brooksl. 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, another day, another bad economic statistic, and actually this is the second consecutive
00:05month in which the cost of living index, the inflation figure, has increased.
00:11Labour really need to change course now on the economy.
00:14We're seeing that the economy is flatlining now.
00:17It looks like the Bank of England may keep interest rates higher for longer.
00:22That's had a big cost on everybody's mortgage, and the government's just taken the wrong
00:26course.
00:27That high-tax, high-spending approach isn't going to get the economic growth that we need.
00:32After only four months, what we're seeing is all of the major metrics, whether it's
00:37hiring decisions, investment, now we're getting inflation, and last week we saw the growth
00:42figures, all of them are going in the wrong direction.
00:45After only four months, what could this be like after four years of a Labour government?
00:50Pensioners, businesses, farmers, they're all feeling betrayed.
00:54Private businesses are not feeling able and confident to invest.
00:57The Chancellor does need to take change course quickly.