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The leader of the TUC, Brendan Barber, has spoken out about the spending cuts being made by the government claiming that they are causing the country harm. He has argued that the policies are destroying confidence in the economy and certain measures being taken, such as the increase of pension contributions for the public sector, will just result in strikes.

Next week, the TUC’s three day annual congress will take place in London where Ed Miliband will be one of the key speakers. It was at the pre congress briefing that Barber spoke out about his reservations over the spending cuts and his beliefs that they are a waste of time as they are preventing government investment and therefore discouraging anyone from investing. He said that without this investment the deficit can never be reduced. Instead, he suggested the best way to treat the deficit is to look at the causes not the consequences.

Despite these statements, Chancellor George Osborne is sticking firmly to the strategy that is in place arguing that if the plan was discarded interest rates would begin to rise and growth potential would be diminished.

Discussions over the economy are expected to take up the majority of the TUC’s annual congress, in particular about the increases in the public sector’s pension contributions. The rise in these contributions is predicted to bring an additional £1.1bn to the government. However, the Public and Commercial Services Union have stated that a coordinated strike over this new policy will be held in November.

About The Author

Lee Murphy

MAAT and ICPA accountant, with a passion for making accountancy and bookkeeping accessible. Other interests include cloud-based software development for web and mobile access, keeping fit, reading, and entrepreneurship.

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