date: Thursday 4 December 2008

embargo: For immediate release

Interest rates decision 'spot on', says TUC

Commenting on the one percentage cut in interest rates, TUC General Secretary Brendan Barber said: 'This decision was spot on. The Bank of England could not be clearer about what it expects the high street banks to do.

'The Government must now pull every lever of influence to get banks lending. If that doesn't work, radical measures will be needed straight away. The alternative is a wave of bankruptcy and redundancy.'

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Press release (200 words) issued 4 Dec 2008