TUC calls on G20 for action to halt slide in global economy

By agency reporter
July 15, 2016

The Trades Union Council (TUC) Deputy General Secretary Paul Nowak has visited Beijing, joining trade union leaders from the world’s leading industrial nations to call for coordinated action to address the risks of global recession.

The L20 Summit brings together trade union leaders to make recommendations to G20 labour and employment ministers who are also meeting in Beijing this week.

The L20 report, Getting quality job creation back on track, calls on G20 members to halt the slide in the global economy by a coordinated increase in public investment to boost global demand; and increased wages through stronger collective bargaining.

The L20 report was given a boost by a statement from the G20 labour and employers ministers on 13 July 2016, which affirmed the importance of public investment to reducing unemployment. The TUC says it is now up to the G20 finance ministers and heads of state to bring forward a coordinated package of public investment to safeguard global growth and create jobs.

 Paul Nowak said: “With the global economy stalling, and Brexit adding to the uncertainty, we need a coordinated response from G20 countries to protect growth. Faster wage growth and higher public investment should be the top priorities.

“Britain must show leadership on a coordinated programme of investment by setting out UK plans for infrastructure spending."

he concluded: “The TUC has published a plan of action to keep the UK economy moving. The government must give the go-ahead for a third runway at Heathrow, bring forward major new infrastructure projects like high-speed rail and announce a big expansion in housebuilding.”

* Read the report Getting quality job creation back on track here

* TUC https://www.tuc.org.uk/


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