A
new TUC report claims that the economic impact of the foot and mouth
crisis is likely to be small and temporary.
However
interest rates need to be cut further to aid the UK’s manufacturing
sector, says the Economic Impact of Foot and Mouth It claims that the
macro-economic impact of the crisis is only likely to reduce economic
growth by 0.2 percentage points.
The
biggest threat to growth is global economic instability and the bleak outlook
for manufacturing, according to the report.
TUC
general secretary John Monks said, “A further interest rate cut is now
essential to boost manufacturing, help to rebuild agriculture and tourism and
resist the knock-on effects of US recession.”
By
Richard Staines
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