Shrinking UK economy in “dire straits” as jobs and living standards are hit – TUC

Responding to today’s (Thursday) GDP figures, showing GDP fell by 0.3% in the fourth quarter of 2023, TUC General Secretary Paul Nowak said:

“The UK economy is in dire straits. After years of Tory stagnation, we are now in technical recession.

“The Conservatives’ economic failures are hitting jobs and living standards. With household budgets at breaking point, spending is down and the economy is shrinking. At the same time our crumbling public services are starved of much-needed funding.

“After being in power for 14 years, the Tories have driven our economy into a ditch and have no idea how to get out.

“It’s time for a government with a serious long-term plan and strategy for renewal, to revive our economy and sustain growth into future.”