On 07 November the TUC published an analysis showing that since the previous 2017 election, called for by the then Tory PM Theresa May, the UK economy has fallen into the ‘relegation zone’. Using data from the OECD the trade union confederation’s analysis shows that in the space of two years UK GDP grew just 1.3% on average compared to 2.7% for other advanced nations. The TUC also noted the lamentable fact that the OECD even ranked the UK 31 out of the 35 nations.
In its report the union confederation also showed that UK total investment fell at an annual average rate of -0.2% between Q2 2017 and Q2 2019 and compares this to average growth of +3.4% across the rest of the OECD. Similarly, UK exports fell at an annual average of -2.6% over the same period compared with average growth of +3.4% across the rest of the OECD.
For the TUC, the workforce is shouldering the burden of the UK’s poor economic performance. The prolonged weakness of GDP growth has resul
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