| | |
Share

UK economy 'headed in the wrong direction'

The Trades Union Congress (TUC) has criticised the coalition government for taking the national economy in entirely the wrong direction.

General secretary of the TUC Brendan Barber asserted that this has become more pronounced than ever as data from the Office for National Statistics reveals that the UK economy contracted more than was previously thought in the first three months of 2012.

Speaking at the annual Wales TUC in Llandudno yesterday (May 24th), he argued that the proposals to introduce regional pay will be very damaging economically.

He called on the government to change the course of its current deficit reduction scheme, arguing that it is lowering living standards and holding back business.

Instead, a renewed focus on investment in creating new positions and national infrastructure was recommended.

"Despite ministers' efforts to blame Europe for everything the truth is many of our problems are home grown, with consumer spending and construction both struggling under the weight of the government's austerity programme," Mr Barber explained.ADNFCR-1898-ID-801371852-ADNFCR

Accountants and Business Advisers © 2013 BDO LLP. All rights reserved. BDO LLP, a UK limited liability partnership registered in England and Wales under number OC305127, is a member of BDO International Limited, a UK company limited by guarantee, and forms part of the international BDO network of independent member firms. A list of members' names is open to inspection at our registered office, 55 Baker Street, London W1U 7EU. BDO LLP is authorised and regulated by the Financial Services Authority to conduct investment business. BDO is the brand name for the BDO network and for each of the BDO Member Firms.