Vince Cable, who famously predicted the credit crunch, has warned that the recent fall in retail sales are a sign the "post-Brexit honeymoon" for the UK economy is coming to an end.
Figures out today have shown UK retail sales saw their biggest quarterly fall in seven years in March, as rising prices since the Brexit vote hit consumer spending.
Commenting, Liberal Democrat former Business Secretary Vince Cable said:
“These worrying figures suggest the post-Brexit honeymoon is over.
"Our economy has been sustained by consumer spending, based on substantial and unsustainable amounts of consumer debt. That now appears to be coming to an end.
"Consumers are being hit with a Brexit squeeze to living standards caused by rising prices and the falling pound.
"What the country needs is substantial investment to raise productivity, but this is being inhibited by all the uncertainty around a hard Brexit.
"This election is a chance to the change the direction of our country, prevent a hard Brexit and keep Britain in the single market."
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