Commenting on Mondays speech by the Shadow Chancellor Ed Balls, TUC General Secretary Frances O’Grady said:
‘The government’s economic policies are not working. Three years on from the election families have seen their living standards plummet, businesses are struggling and almost a million young people without work despair that they will ever find a job.
‘Borrowing to invest in the UK’s capital infrastructure is both a smart and sensible way to get our economy growing again – and a huge social housing programme would create much-needed jobs and growth.
‘Only last week we published research showing that the UK economy would have grown three times faster over the last year if the government had done more to stop the decline of our construction industry.
‘The longer the government’s failed policies continue, the greater the damage to our economy. What we need now is strong and sustainable growth rather than further cuts to universal benefits.’