So can a recession in a country with which Britain trades.

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The Trades Union Congress says Britain's policy of allowing companies to opt-out of the European Union Working Time Directive, meaning people to work over the 48-hour a week limit on a "voluntary" basis, meant the protection it offered could be circumvented.

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John Monks, general secretary of the European Trades Union Congress, complains that Britain has defanged the charter.

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With those questions unanswered, consensus appears to be building around a more limited tax on share trades, similar in style to Britain's stamp duty, that could be expanded later.

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Britain's workforce has taken the biggest pay cuts in the developed world according to a study published by the Trades Union Congress.

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The 700 or so guests at the lunch included young people and representatives of different trades, crafts and professions from around the country, with the National Children's Orchestra of Great Britain providing music during the meal.

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