TUAC - TRADE UNION ADVISORY COMMITTEE TO THE OECD

17/03/2011

Commenting on the Organisation for Economic Co-operation and Development (OECD) economic survey published today (Wednesday), TUC General Secretary Brendan Barber said:

“The OECD report includes important proposals to encourage growth but they are far too complacent about the very real risks that deep, early spending cuts pose for the UK economy.

“Optimism about falling unemployment is not borne out by figures today showing that joblessness has reached a 17 year high. And the recovery more than slowed in the second half of 2010, it actually went into reverse.

“The fact is our economy is far too fragile to cope with the barrage of spending cuts starting this spring.

“We welcome the OECD’s call for more high-quality pre-schooling, vocational training and a green investment bank. But all these areas are under threat from the same spending cuts the OECD supports.

“The government needs to come up with a plan B next Wednesday and produce a budget for jobs and sustainable growth that reverses the growth sapping cuts it plans.

“This is what the tens of thousands of people marching in central London on Saturday 26 March will be calling for.”