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UK and EU should heed IMF on public investment for global growth, says TUC

Responding to the IMF World Economic Outlook published yesterday (Tuesday) which draws on IMF research to recommend public investment for global growth, TUC General Secretary Frances O’Grady said: 

“The IMF’s research shows why austerity is failing across Europe and we have the slowest recovery from a crash on record. Waiting for growth to turn up is not enough, we need concerted government action to improve living standards in both Britain and our EU neighbours through investment in jobs, infrastructure, skills and wage packets.

“Without such action living standards will fail to recover. And complacent governments seem to want to go back to pre-crash business as usual, despite the worrying signs we can see already of house prices surging, an unreformed finance sector and household debts rising again. Only public investment and a strong industrial policy will give us a rebalanced economy that can deliver for all.”

NOTES TO EDITORS:

- All TUC press releases can be found at www.tuc.org.uk

- Follow the TUC on Twitter: @tucnews

- On Saturday 18 October the TUC is organising Britain Needs a Pay Rise – a national march and rally in London to call for an economic recovery that delivers for everyone, and for fair wages to help end the living standards squeeze. For more information on the campaign go to www.tuc.org.uk/economic-issues/britain-needs-pay-rise

Channel website: https://www.icaew.com

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