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Responding to the latest GDP growth figures today (Friday), which show that the UK economy contracted by 0.3 per cent in the last quarter of 2012, TUC General Secretary Frances O'Grady said:
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date: 25 January 2013

embargo: For immediate release

Responding to the latest GDP growth figures today (Friday), which show that the UK economy contracted by 0.3 per cent in the last quarter of 2012, TUC General Secretary Frances O'Grady said:

'Today's figures confirm our worst fears that the Chancellor's austerity plan has pushed the UK economy to the brink of an unprecedented triple-dip recession.

'We are now mid-way through the coalition's term of office and its economic strategy has been a complete disaster. The economy has grown by just one per cent, real wages have fallen, and the manufacturing and construction sectors have shrunk. We remain as dependent on the City as we did before the financial crash.

'The Chancellor now has all the evidence he needs to change course and focus instead on investment and growth. If he refuses to listen he could do even more permanent damage to the economy.'

The latest GDP figures show that in the ten quarters since the election, manufacturing has contracted by 0.4 per cent and the construction sector has shrunk by nine per cent.

NOTES TO EDITORS:

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

- Follow the TUC on Twitter: @tucnews

Contacts:

Media enquiries:
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: media@tuc.org.uk
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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