The Bank is doing all it can, but without government action the economy could still be in trouble, says TUC

4 August 2016

Commenting on the decision today by the Bank of England’s Monetary Policy Committee to cut interest rates to 0.25% and expand its quantitative easing programme, TUC General Secretary Frances O’Grady said:

“The Bank is right to respond quickly to the early signs of trouble for the economy following the Brexit vote. But it won’t be enough without urgent action from the government too, before workers end up paying the price with falling pay and job losses.

“The TUC has published an action plan to protect jobs and growth. The government must immediately give the go-ahead for a third runway at Heathrow, bring forward major new infrastructure projects like high-speed rail and announce a big expansion in housebuilding.”

NOTES TO EDITORS:

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