Slowest ever recovery slows down again
“The slowest recovery in modern history just slowed down again. This is bad news for jobs and living standards. What’s more Conservative plans for extreme cuts after the election risk completely killing off this faltering recovery and plunging the economy back into even deeper trouble."
28 April 2015
Commenting on the latest GDP figures published today (Tuesday) by the Office for National Statistics (ONS), which show the rate of GDP growth falling by half to 0.3 from 0.6 per cent, TUC General Secretary Frances O’Grady said:
“The slowest recovery in modern history just slowed down again. This is bad news for jobs and living standards. What’s more Conservative plans for extreme cuts after the election risk completely killing off this faltering recovery and plunging the economy back into even deeper trouble.
“The makers are marching backwards, construction is slumping and it’s only services that have rescued the economy from shrinking. This is the opposite of the rebalanced economy we were promised.
“We were never going to get a stable recovery with the shaky foundation of wage stagnation, low investment and insecure jobs. We need a new plan for growth based on investment in infrastructure and good jobs with decent pay.”
NOTES TO EDITORS:
- All TUC press releases can be found at www.tuc.org.uk
- Follow the TUC on Twitter: @tucnews
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