TUC joins in condemnation of today’s GDP figures, warning there is a real danger of UK returning to recession
The GMB has called on the government to introduce an emergency budget after today’s news that economic growth was cut to 0.1%.
As household spending dropped 0.8% and growth figures were revised downwards, general secretary Paul Kenny told David Cameron to stop his ‘Marie Antoinette’ impression.
He said: “These figures confirm that the recovery that was underway from the banker’s recession stalled as a direct result of slamming on the spending brakes.
“With government getting rid of tens of thousands of public sector jobs and with the private sector either stalling or going backwards the outlook in many areas is very worrying bordering on bleak. GMB experience is that the position on the ground is getting worse.
“Cameron and Osborne, Clegg and Cable are responsible for hundreds of thousands of workers now being without jobs. The Marie Antoinette impression from them has got to stop. An emergency budget for investment in jobs is overdue.
“The priority is for investment to create jobs and boost confidence rather than cuts in the tax rate for the super-rich. Investment in housing, school repair, energy and transport are all badly needed and will create jobs and growth in all sectors of the economy.
“The squandering of human talent through unemployment is a crime that will haunt future generations.”
TUC general secretary Brendan Barber said: “The economic news just keeps on getting worse. Today’s revision of the GDP growth figures show the economy is doing even more badly than expected. There is now a real danger of the UK going back into recession, and the best that current policies can deliver will be years of stagnation.
“We need action to kick start the economy, rather than speeches telling us to look on the bright side. The fall in household spending is almost as steep as at the height of the crash as wages are squeezed, prices rise and families cut back.
“Of course people should be sensible about paying back unsustainable debt, but the truth is that the government is relying on people borrowing more as OBR forecasts reveal. George Osborne must be hoping that people ignore the Prime Minister’s advice to pay back their credit cards today.”
Paul Kenny GMB General Secretary said
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