Since 2008, £1.27 trillion (thousand billion) of UK public money has been used to bail out the banking system - leading to the so called 'public sector deficit' increasing by 57% in the past three years. This opportunistic conversion of private debt to public debt is being used to justify brutal austerity measures including unprecedented cutbacks in public spending (eg 27% reduction in local government). The UK economy is stagnant and unemployment levels are rising fast, notably for women and young people.
In a lecture at Liverpool University, TUC General Secretary Brendan Barber will today set out an alternative economic vision for growth, jobs and quality public services:
http://www.tuc.org.uk/economy/tuc-20205-f0.cfm
