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Commenting on the inflation forecast published today (Thursday) by the Bank of England, TUC General Secretary Frances O’Grady said:

“This forecast should be a wake-up call to government. The Chancellor has already delivered the slowest recovery in British history along with dramatic falls in living standards. Deflation would be no surprise in Britain’s slow growth, low pay economy, and would pose real risks to future growth and living standards.

12 February 2015

Commenting on the inflation forecast published today (Thursday) by the Bank of England, TUC General Secretary Frances O’Grady said:

“This forecast should be a wake-up call to government. The Chancellor has already delivered the slowest recovery in British history along with dramatic falls in living standards. Deflation would be no surprise in Britain’s slow growth, low pay economy, and would pose real risks to future growth and living standards.

“Responsibility for stabilising inflation cannot be left to the Bank alone. The government must come up with a credible plan to get wages rising faster. And the Chancellor should stop threatening the economy with the biggest austerity package in the developed world.”

NOTES TO EDITORS:

- The TUC is organising Fair Pay Fortnight 2015 between Monday 16 February and Sunday
1 March. The Fortnight is part of the TUC’s Britain Needs a Pay Rise campaign and will feature a series of events across England and Wales to raise awareness about low pay, pay inequality and the need for higher pay settlements in the public and private sector. For more information please visit www.fairpayfortnight.org

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

- Follow the TUC on Twitter: @tucnews

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