The Trade Union Congress (TUC) has concluded that recovery in the UK economy is happening at a slower rate than after any of the nation\u2019s previous eight worst recessions, which date back to 1830, following analysis of statistics produced by the Government.<\/p>\n
Recently released figures from the Office for National Statistics (ONS) have indicated economic growth at a rate of 0.7 per cent during the last quarter.<\/p>\n
GDP per head is also said to have risen to \u00a36,715, similar to the pre-crisis level in 2008.<\/p>\n
In the five years following the worldwide recession in 2009, the growth rate for the UK has been 6.1 per cent.<\/p>\n
However, despite the Government\u2019s claims that Britain\u2019s economy is currently booming, the actual pace of economic growth \u2013 as far as GDP per person is concerned \u2013 is much slower than rates recorded after some of the UK\u2019s other major recessions, according to the TUC.<\/p>\n
To highlight this, the national trade union body states that GDP growth after the 1970s recession was 11.4 per cent while after the 1980s crisis the growth rate was 15.5 per cent.<\/p>\n
Furthermore, following the Great Depression of the 1930s, GDP per person went up by 21 per cent.<\/p>\n
The TUC\u2019s general secretary \u2013 Frances O\u2019Grady \u2013 said: \u201cWe are stuck in a culture of low expectations for the economy. And while it suits the Chancellor to get an easy ride for his shoddy record, it\u2019s not good for the rest of us.<\/p>\n
\u201cSix years on from the recession, our economy should be doing much better by now. It has never taken us so long to recover from a major recession before.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
The Trade Union Congress (TUC) has concluded that recovery in the UK economy is happening at a slower rate than after any of the nation\u2019s previous eight worst recessions, which date back to 1830, following analysis of statistics produced by the Government.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"_links":{"self":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/896"}],"collection":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=896"}],"version-history":[{"count":2,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/896\/revisions"}],"predecessor-version":[{"id":898,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/posts\/896\/revisions\/898"}],"wp:attachment":[{"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bainesjewitt.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}