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IMF UK growth forecast ‘a mirage for millions of Brito...

IMF UK growth forecast ‘a mirage for millions of Britons’, says Unite

21 January 2014

The International Monetary Fund’s (IMF) prediction of greater growth in the British economy than previously forecast bears little resemblance to the economic reality for millions of UK citizens, Unite, the country’s largest union, said today (Tuesday 21 January).

Unite said that the recent growth was based on consumer spending and its beneficiaries were the UK’s wealthiest top one per cent.

Unite general secretary Len McCluskey said: “The IMF projection comes on the day after the TUC report that showed that job growth is concentrated in the London and the south east, leaving regions, such as the north east and south west, to languish in the jobs doldrums.

“In the UK today, many people can’t afford to heat their food parcels or even to pay for their own funeral.

“The IMF’s findings may show parts of the economy are moving again after this government’s self-imposed deep freeze, but it should not start champagne corks popping at No 11.  

“Too many people in this country are not experiencing any form of `recovery’ – for them such growth is a mirage.

“While people suffer wage depreciation that takes them back a decade, and the government argues over a few pence on poverty pay, millions of pounds in personal debt have been reported in just two days to the StepChange debt charity.

“This economy is broken and we cannot rely on this government of millionaires to fix it.”

The IMF now expects the UK economy to grow 2.4 per cent this year - faster than any other major European economy - against its previous forecast of 1.9 per cent. In 2015, it expects growth of 2.2 per cent.

ENDS

For further information please contact Unite senior communications officer Shaun Noble on 07768 693940

Twitter: @unitetheunion Facebook: unitetheunion1

Notes to editors:

  • Unite is Britain and Ireland’s largest trade union with over 1.4 million members working across all sectors of the economy. The general secretary is Len McCluskey.