TUC: Government must back the Bank’s emergency plans with public investment

6 Jul 2016 12:01 PM

Commenting on the Bank of England’s Financial Stability Report, published yesterday (Tuesday) which outlines heightened risks following the UK’s vote to leave the EU, the TUC General Secretary Frances O’Grady said:

“We welcome the Bank’s plans to free up credit to households and businesses. But protecting the economy from Brexit risks can’t be left to the Bank of England alone.

“The government must now act quickly so that working people do not pay the price of leaving the EU. 

“Ministers must speed up spending on infrastructure and urgently approve Heathrow’s third runway, bring forward major projects like high-speed rail and announce a big expansion in housebuilding.”

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
• Follow the TUC on Twitter: @The_TUC and follow the TUC press team @tucnews