TUC on February interest rates decision

Commenting on the Bank of England's decision today (Thursday) to cut interest rates to one per cent, TUC Head of Economic and Social Affairs Adam Lent said: “This was the correct decision and the one the markets expected. The priority now must be to get the high street banks to pass on this cut without delay to businesses and homeowners. Failure to do so will end up prolonging the economic downturn.”

TUC comment on DWP ‘Saving for retirement’ research report

Commenting on the DWP report “Saving For Retirement: Implications of pensions reforms on financial incentives to save for retirement” published today (Thursday), TUC General Secretary Brendan Barber said: “This rigorous research shows that the great bulk of people are likely to be better off in retirement when auto-enrolment into an employer scheme or a personal account starts in 2012.

‘Refinery workers are understandably and rightly angry’, says TUC

Commenting on the dispute centring on the Lindsey Oil Refinery in North Lincolnshire, TUC General Secretary Brendan Barber said: “With big job losses announced every day, workers are fearful for their jobs. Refinery workers are understandably and rightly angry at employers who have not given British based workers the opportunity to apply for new jobs. The employer will be in breach of the law if they restrict any future vacancies to workers of a particular nationality or location.