Wired-GOV Newswire (news from other organisations)
 Printable version
|
TUC sounds alarm as household savings fall to lowest level since records began
TUC General Secretary Frances O’Grady commented on today’s GDP figures, which show that household savings are at their lowest levels since record began,
“These figures make for grim reading. People raiding their piggy banks is bad news for working people and the economy.
“But with wages falling as living costs rise, many families are having to run down their savings or rely on credit cards and loans to get through the month.
“With household debt now at crisis levels, we urgently need to create better paid jobs. And the government must do its part by lifting the unfair pay restrictions on public sector workers.
“Ministers need to get their act together quickly. It looks like we are at the start of another living standards crisis.”
Related information is available at: https://www.ons.gov.uk/economy/grossdomesticproductgdp
Notes to Editors:
- All TUC press releases can be found at tuc.org.uk/media
- YUC Press Office on Twitter: @tucnews
Contacts:
Press Office T: 020 7467 1248 E: media@tuc.org.uk
Alex Rossiter T: 020 7467 1285 M: 07887 572130 E: arossiter@tuc.org.uk
Tim Nichols T: 020 7467 1388 M: 07808 761844 E: tnichols@tuc.org.uk
Elly Gibson (Mon to Thurs) T: 020 7467 1337 M: 07900 910624 E: egibson@tuc.org.uk
Michael Pidgeon T: 020 7467 1372 M: 07717 531150 E: mpidgeon@tuc.org.uk
