Growth is welcome – but wrong kind of recovery and two years late

Commenting on the latest preliminary estimate of GDP growth published today (Tuesday) by the Office for National Statistics, which shows that the economy grew by 0.7 percentage points in the last quarter of 2013, TUC General Secretary Frances O’Grady said:

“Any return to growth is welcome, but this is the wrong kind of recovery and is two years late.

“The recovery is yet to reach whole swathes of the country or feed into people’s pay packets. This must change if the benefits of recovery are to be felt by both businesses and workers.

“Unless the short-term boost provided by house prices and consumer debt is transformed into investment, rebalancing and higher living standards, the danger is that it will prove unsustainable.”

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