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ICAEW responds to July 2019 public sector finance figures

Wednesday 21 August 2019 – Commenting on the public sector finances for July 2019, published today by the Office for National Statistics (ONS), Sumita Shah, ICAEW Regulatory Policy Manager, said:

“Last month’s contraction in the economy and net borrowing up by £6bn brought about fears that we could be heading for a recession for the first time in 10 years.

“Forthcoming key decisions by the government need to consider the long-term development of the country, and the need to bring back positive growth.

“As we lead up to the 31 October Brexit deadline, it’s important that the government gets to grips with the bigger, long-term picture, which is maintaining the sustainability of our public finances. The government has a responsibility to instil confidence back into the UK economy, which is essential if the economy is going to be in the best shape to face the challenges and opportunities of life outside the European Union.”

Media enquiries

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Jude Obi

Senior Media Relations Executive, ICAEW

T: +44 (0)207 920 8553 or +44 (0)7917 530 747
E: jude.obi@icaew.com