Contraction of business activity across all sectors demands action from government as well as Bank, says TUC

3 August 2016

Commenting on the publication today (Wednesday) of survey data by Markit, which indicates output falling in July across a combined index for services, manufacturing and construction, TUC General Secretary Frances O’Grady said:

“Action from the Bank of England to help keep the economy moving will be welcome. But with interests rates already so low, it’s the government that can make the biggest difference.

“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:

- TUC has published a report on the urgent economic and industrial action needed from government following the Brexit vote. The full TUC report, Working people must not pay the price for the vote to leave the EU: an action plan to protect the economy, jobs and workers rights’, can be found at: www.tuc.org.uk/sites/default/files/WorkingPeopleMustNotPaythePrice.pdf

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

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