WiredGov Newswire (news from other organisations)
Printable version

GDP: Holding down pay is putting our economy in a doom loop, says TUC

TUC General Secretary Paul Nowak commented on today’s (Friday) GDP data, which shows growth declining 0.3 per cent in the three months to November.

"People’s living standards have already plummeted. And now falling GDP is putting jobs and businesses at risk. But there is little sign that Rishi Sunak’s government has any kind of plan to get our economy quickly back to growth.  

“We urgently need workers to have more spending power to help the UK bounce back from decline. But instead, ministers are going all out to hold down pay. That’s only going to make a bad situation worse and keep us in a doom loop.” 

Editors note

- About the TUC: The Trades Union Congress (TUC) exists to make the working world a better place for everyone. We bring together the 5.5 million working people who make up our 48 member unions. We support unions to grow and thrive, and we stand up for everyone who works for a living. 

GDP monthly estimate, UK: November 2022

Original article link: https://www.tuc.org.uk/news/gdp-holding-down-pay-putting-our-economy-doom-loop-says-tuc

Share this article

Latest News from
WiredGov Newswire (news from other organisations)

Free, Secure, Compliant UK Public Sector IT Recycling Service