TUC: IFS report shows Osborne 'failing on all counts'

Commenting on the Institute for Fiscal Studies' report that the "era of austerity" could last until 2018, the TUC claimed it shows Chancellor George Osborne's economic strategy is "failing on all counts".

TUC General Secretary Brendan Barber said:

The UK should be on the road to recovery by now. Instead we could be set for a prolonged period of debilitating austerity well beyond the next election.

The Chancellor should use his Autumn Statement next week to change course. Sadly he looks set to drive the economy even faster in the wrong direction.

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Austerity era 'could last to 2018'

The Institute for Fiscal Studies has warned the "era of austerity" could last until 2018 as Chancellor George Osborne is forced to extend spending cuts still further into the next Parliament.