Ahead of this week’s European TUC mid-term conference in Dublin, European Union leaders have called for a new European Recovery Plan to kick-start economic growth.
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With its intellectual justification in tatters, this government’s policy must change direction before it’s too late
The policy of austerity is finally dying with Europe and even the monetarist IMF realising their folly recently. With its intellectual justification in tatters this government’s economic policies must change right now.
The UK construction industry has shrunk by ten per cent under the coalition and construction output is now at its lowest level since 1998, according to new analysis by the TUC.
New data and projections from the OECD starkly portrays the differing approaches to austerity in the US and UK. The red line shows the US, the blue line shows the UK.
The average weekly disposable income has fallen to a 12-month low, the second consecutive year-on-year decline in two months, according to Asda.
While cuts are inevitable, there are ways to rebalance cuts towards those with the broadest shoulders. Public sector jobs are not the problem.
The IMF has cited some improvement in overall economic conditions, but has urged the government to do more to speed up growth in its assessment of the UK economy.
According to the latest ONS borrowing figures, the deficit for April was £6.3bn, around £2bn lower than expected. Public sector net borrowing for the previous year (2012/13) was revised down from £120.6bn to £119.5bn (compared to a deficit of £120.9bn in 2011/12).
The UK is experiencing a slower economic recovery than 23 of the 33 advanced economies monitored by the International Monetary Fund (IMF) and is lagging behind all but one G7 country on exports, wage growth and manufacturing, according to new analysis published today by the TUC.
A majority of the public believes the government’s economic plan has failed and that it will be ‘time for a change’ in 2015, according to a ComRes survey for tomorrow’s Independent.