PRESS RELEASE : Holding down pay is putting our economy in a doom loop, says TUC [January 2023]

The press release issued by the TUC on 13 January 2023.

Commenting on today’s (Friday) GDP data, which shows growth declining 0.3 per cent in the three months to November, TUC General Secretary Paul Nowak said:

“People’s living standards have already plummeted. And now falling GDP is putting jobs and businesses at risk. But there is little sign that Rishi Sunak’s government has any kind of plan to get our economy quickly back to growth.

“We urgently need workers to have more spending power to help the UK bounce back from decline. But instead, ministers are going all out to hold down pay. That’s only going to make a bad situation worse and keep us in a doom loop.”