Unite: Latest economic indicators point to the government's complacency
Wednesday, 8 August 2012
8:01 AM
Unite has accused the government of being in a slumber of complacency as new manufacturing and production figures from the ONS (Office for National Statistics) show more bad news for Britain's economy.
The seasonally adjusted Index of Manufacturing and the Index of Production from the ONS have both fallen by 4.3 per cent in June 2012, compared with June 2011.
Unite assistant general secretary, Tony Burke said:
"The economic alarm bells are ringing, but the government is failing to wake from its slumber of complacency. This is more bad news and it comes on top of yesterday's bad news from the CBI which showed that output had fallen for small and medium sized manufacturers.
"Britain needs to break out of the spiral of decline made in Downing Street. Osborne's austerity is choking off demand and Britain's banks refusing to lend are killing off any hope of a recovery.
"Britain needs a National Investment Bank to support businesses crying out for funds. This would allow business to bypass the existing banking structure that has failed to lend and properly support British PLC."
Yesterday (6 August), the CBI announced that output had fallen among the UK’s small and medium-sized manufacturers, and sentiment had deteriorated.
ENDS
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