Vince Cable: Fall in retail sales shows brutal reality of Brexit hitting consumers

Retail sales fell by 1.2pc between April and May, worse than economists had expected.

By Liberal Democrats, Jun 15, 2017 12:06

Retail sales fell by 1.2% between April and May, worse than economists had expected, figures from the Office for National Statistics have shown.

The ONS said that average store prices have risen by 2.8% over the year, which has been a significant factor in slowing growth.

Liberal Democrat MP Vince Cable said: “The economy has been kept going for a year on the basis of consumer debt, which was always artificial and unsustainable.

“The brutal reality of a hard Brexit is now starting to hit businesses and consumers.

“Unless the government takes a cross-party approach to Brexit, reflecting the need for compromise, we will inevitably see a continuing slowdown and possible slump in the economy.”

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