Government cannot rely on Bank of England to manage Brexit dangers, says TUC

14 July 2016

Commenting on the decision today by the Bank of England’s Monetary Policy committee to hold interest rates, TUC General Secretary Frances O’Grady said:

“The Bank of England has pointed out some worrying signs that the vote to leave the European Union is beginning to affect jobs and investment – and has been clear about its determination to support the economy in this period.

“Theresa May’s new government must now take decisive action to make sure that workers do not pay the price for the decision to leave the European Union.

“That means investing in our infrastructure as the TUC set out in our plan of action to keep the UK economy moving. We need the third runway at Heathrow to be given the go ahead, renewed support for HS2 and plans for more high-speed rail and a major expansion in housebuilding brought forward as a matter of urgency.”

NOTES TO EDITORS:

- The TUC has published a plan of action to keep the economy moving, including an urgent programme of public investment: 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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