The economy is still suffering from an avalanche of cuts, says TUC
GDP figures published today (Friday) are continuing a pattern of low growth that has been largely caused by government cuts and underinvestment, says the TUC.
The UK economy grew at just 0.1% in the last quarter. And over the year from Q1 2017, growth was 1.2%, the lowest for more than 5 years.
TUC General Secretary Frances O’Grady said:
“One week of snow doesn’t explain a decade of weak growth, dismal productivity and falling wages. It’s the avalanche of cuts that has done the long-term damage.
“We need to modernise Britain’s infrastructure. The government should set up a National Investment Bank to upgrade roads and rail, and to bring high-speed broadband and clean energy to every part of Britain.
“And it’s time to get our public services back up to strength. Schools, hospitals and other vital services are part of Britain’s core economy. If they remain starved of resources, the rest of the economy will continue to struggle too.”
The TUC is holding a march and rally on London on Saturday 12 May demanding a new deal for working people.
- For more information on A New Deal For Working People, the TUC’s march and rally on 12 May, please visit: www.tuc.org.uk/new-deal-working-people-tuc-march-and-rally
- UK public capital investment will peak at just 2.9% of GDP in the current parliament, compared to the OECD average of 3.5%.
- On current plans, spending per person on schools, hospitals, local government and other public services will be down by £960 in 2022/23 compared to its level in 2009/10.
- The Trades Union Congress (TUC) exists to make the working world a better place for everyone. We bring together more than 5.5 million working people who make up our 49 member unions. We support unions to grow and thrive, and we stand up for everyone who works for a living.
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