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Government's Economic Plan' Built On Sand' As Growth Flatlines

Wednesday, July 26, 2017

 

If Government's austerity programme was supposed to help the economy – it’s failed.

GMB union has today called for Government action on low pay, a plan for decent jobs and government investment in industry as the UK’s growth flatlines.

The latest GDP figures released today show growth in the second quarter of 2017 was just 0.3%. [1]

The first quarter of 2017 saw GDP drop to 0.3% from 0.7% in the last quarter of 2016.

The economy only grew because of services and otherwise contracted compared to the previous quarter.

Within production, a fall in car manufacturing has driven the contraction of the whole manufacturing sector.

Tim Roache, GMB General Secretary, said:

“This Government's economic plan is built on sand - and as it crumbles we're all bearing the brunt.

“Working people are being hit time and time again by the Tories' ill-judged, self-defeating austerity agenda - low wages, insecure jobs, a real terms pay cut for millions of public sector workers, and an attack on housing and childcare support for those in work but struggling to make ends meet.

“It all amounts to real hardship for millions of people as they struggle to put food on the table and clothe their kids.

"The government can sit by and watch as the economy tanks, or it can get it's act together and actually do something about it.

"Where is the extra support for public services, investment for industrial growth or planning the skills for today and tomorrow's workforce?

“We were told austerity was needed for a strong economy, all evidence points to that being a load of rubbish. We need action on low pay, a plan for decent jobs and government investment in industry."

ENDS

Contact: GMB press office on 07958 156846 or at press.office@gmb.org.uk

Notes to editors:

[1] https://www.ons.gov.uk/economy/grossdomesticproductgdp/bulletins/grossdomesticproductpreliminaryestimate/aprtojune2017

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