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Commenting on new analysis published today (Monday) by the Institute for Fiscal Studies, which warns that the Chancellor may have to abandon his fiscal target on falling debt and announce more spending cuts after 2015, TUC General Secretary Brendan Barber said:

date: 23 November 2012

embargo: 00.01hrs Monday 26 November 2012

Commenting on new analysis published today (Monday) by the Institute for Fiscal Studies, which warns that the Chancellor may have to abandon his fiscal target on falling debt and announce more spending cuts after 2015, TUC General Secretary Brendan Barber said:

'This analysis shows that the Chancellor's economic strategy is failing on all counts. The economy has been flat-lining for the last two years, causing borrowing to rise and tax revenues to fall.

'The UK should be on the road to recovery by now. Instead we could be set for a prolonged period of debilitating austerity well beyond the next election.

'The Chancellor should use his Autumn Statement next week to change course. Sadly he looks set to drive the economy even faster in the wrong direction.'

On Wednesday 28 November, the TUC will publish a new study showing the impact of departmental spending cuts up to 2017/18 on households and families across the UK.

NOTES TO EDITORS:

- An embargoed copy of the TUC report on the impact of departmental spending cuts up 2017/18 will be available from Monday 26 November from the press office.

- All TUC press releases can be found at www.tuc.org.uk

- Follow the TUC on Twitter: @tucnews

Contacts:

Media enquiries:
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: rholdsworth@tuc.org.uk
Alex Rossiter T: 020 7467 1337 M: 07887 572130 E: arossiter@tuc.org.uk

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