Heseltine report is a 'damning indictment' of government

Rachel Reeves MP, Labour’s Shadow Chief Secretary to the Treasury, also commented on Lord Heseltine's report:

It's a damning indictment of this government that, half way through this parliament, a former Conservative cabinet minister is still calling for a plan for growth.

Since the spending review two years ago we've had growth of just 0.6 per cent compared to the 4.6 per cent growth George Osborne said he would deliver. And the result of the Government's failure is that families are worse off, long term unemployment is rising and borrowing is going up.

Instead of more complacency from Ministers we need a proper growth plan to catch up the lost ground of the last two years, make families better off and strengthen and sustain economic recovery.

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Heseltine urges regional spend

The Government was today urged by a former minister to spend more money on boosting economic growth in the regions. Lord Heseltine urged the coalition to produce a long-term strategy for economic growth.