George Osborne, the Chancellor of the Exchequer, has warned about potential threats to the economy. In a speech made in Cardiff he said “I worry about a creeping complacency in the national debate about our economy”.
The Chancellor warned of global pressures which could cause problems for the UK economy, saying:
“Last year was the worst for global growth since the crash and this year opens with a dangerous cocktail of new threats from around the world”.
He also warned of other threats such as increasing interest rates and falling oil rates.
John McDonnell, the Shadow Chancellor of the Exchequer, said that Osborne was “getting his excuses in early” and said that Labour had been warning for months about the challenges of the global economy.