Unite: Rise in borrowing is more proof plan A is killing off any hope of recovery
Commenting on the release of official figures out today (21 August) which reveal a shock rise in borrowing in July, Unite general secretary Len McCluskey said:
"With each report on the state of Britain's economy comes more evidence that Tory austerity is failing disastrously and there are real questions about the competence of this government.
"Instead of growing the economy in the summer months, George Osborne actually plunged the country £600 million more into the red in July.
"This fiscal bungling is now dangerous. The City must accept what the rest of us have said all along – this government is hurting but it is not working. It must change course before it does irreversible damage to the economy and the hopes of this nation."
Public sector net borrowing, excluding financial interventions such as bank bailouts, came in at £600 million in July, compared with a surplus of £2.8 billion in the same month last year.
Contact: Ciaran Naidoo on 07768 931 315
Unite is Britain and Ireland’s largest trade union with 1.5 million members working across all sectors of the economy. The general secretary is Len McCluskey.