Unite general secretary Len McCluskey said: “Mark Carney’s speech to the TUC was a missed opportunity to give hope to millions of working people and those struggling to find work, particularly young people.
“Mark Carney’s speech highlighted the failure of ministers to tackle the economic challenges. If the governor of the Bank of England was a head teacher, he would be calling in the parents of the government to raise concerns about their offspring’s poor classwork over the last four years.
“In the past, Mark Carney has called for ‘inclusive capitalism’, but the tone of today’s speech was that working people will have to work longer, and, in many cases, for lower rates of pay.
“Working people are being asked to bear the burdens of the failure of capitalism and the 2008 banking crisis, and the grim austerity that followed which still dogs our people to this day.
“Carney acknowledges the plight of working people when he said that Bank of England research showed 40 per cent of British households were feeling their weight of indebtedness acutely.
“But without plentiful, well-paid jobs, the UK economy will never fully recover and reach its true potential for the benefit of all, and not just a wealthy elite.
“Mark Carney should have made a strong call to business and the corporate sector to take more responsibility for providing greater employment opportunities, boosting pay levels and taking more a pro-active role in the communities in which they operate.
“Investment is key and the corporate sector needs to unlock its coffers to create more opportunities for economic growth at a time when manufacturing output is at a 14-month low. Companies have stockpiled cash mountains in reserves, which should be unleashed.
“The message from Unite remains the same: ‘Britain needs a pay rise’.”
For further information please contact Unite senior communications officer Shaun Noble on 07768 693940 and/or the Unite press office on 020 3371 2065.
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.