16 May 2023
Ahead of the OECD’s influential annual Economic Outlook, to be published on 7 June, the Trade Union Advisory Committee to the OECD (TUAC) urges the OECD to make policy recommendations for:
The trade union proposals come in a TUAC paper to the OECD which highlights key facts including that:
The next OECD Economic Outlook cannot turn a blind eye to the fact that it is profits, not wages, driving inflation. Raising interest rates and imposing austerity will weaken the bargaining position of workers and accelerate the transfer of income from wages to profits. It would be the opposite of the OECD’s stated goal to shape policies that foster prosperity, equality, opportunity and well-being for all. The OECD needs to promote collective bargaining to raise wages to compensate for inflation, as well as tri-partite social dialogue to prevent central banks from unnecessarily putting jobs and economies at risk.