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TUC: Household debt is not a stable basis for growth

Commenting on ONS figures released yesterday (Wednesday), which show GDP growth of just 0.3%, TUC General Secretary Frances O’Grady said:

“The government is relying on consumers for what little growth we’re getting. But the signs of strain are starting to show, with real wages falling and families getting deeper into debt.

“With businesses reluctant to invest, it’s clear the government needs to step up to the plate with a plan to boost investment, and to get wages rising again. And they should start by ending public sector pay restrictions and putting the minimum wage up to £10 as soon as possible.”

Notes to Editors:

  • All TUC press releases can be found at tuc.org.uk/media
  • TUC Press Office on Twitter: @tucnews
  • Congress 2017 will be held in the Brighton Centre from Sunday 10 September to Wednesday 13 September. Free media passes can be obtained by visiting www.tuc.org.uk/Mediacredentials2017 and completing an online form. Applications must be in by noon on Tuesday 29 August. Any received later than that will be processed in Brighton and will cost £75.


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