From the TUC

Geoff Tily's Articles

Kerslake review of Treasury warns that austerity has failed

13 Feb 2017, by in Economics

Today Lord Kerslake (the head of the home civil service, 2012-2014) published his independent review of the Treasury, with launch events in London and Manchester. The report was commissioned by Shadow Chancellor John McDonnell; TUC General Secretary Frances O’Grady was on the panel amongst others (the report is available here). The commentary so far has…




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Lost: £200bn of GDP

26 Jan 2017, by in Economics

Today 2016 Q4 GDP figures showed growth of 0.6 %, and the economy continuing to survive the Brexit vote. But we should not lose the wood for the trees. The economy is still bearing serious scars of the financial crisis and the austerity which followed. Today’s figures also give us an annual figure for GDP…




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Higher pay growth in lower paid industries

18 Jan 2017, by in Economics

There are countless reasons to not get carried away by today’s pay growth figures – with regular pay in the private sector hitting 3 per cent in November. (To recap: with accelerating inflation, real pay growth has stalled at 1.7% and is likely to get worse. We’ve been here before: with nominal private sector pay…




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We are more equal (because we are all worse off)

12 Jan 2017, by in Economics

Normally figures (here) showing the income distribution had narrowed to the lowest point for thirty years – since 1986, the height of Thatcherism – would be reason for celebration. But these are not normal times. The country may be less unequal, but everybody is poorer. Thatcherites used to boast that a rising tide would raise…




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