Emergency budget needed to address risk of recession

Commenting on today’s (Thursday) GDP data, which show growth of 0.8% across the first quarter of 2022, but monthly growth slowing and falling 0.1% in March, TUC General Secretary Frances O’Grady said:

“The Bank of England has warned the government that families are being forced to cut back, and the fall in demand will hit growth. But the Chancellor isn’t doing anything about it.

“The choice now is clear. Either the Chancellor steps up with an emergency budget to get pay rising, help families with soaring bills, and keep the economy moving. Or we risk sliding into recession, with families and businesses paying the price.”