Unite calls on Bank of England to hold its nerve on interest rates

Unite calls on Bank of England to hold its nerve on interest rates

Unite calls on Bank of England to hold its nerve on interest rates

Unite general secretary, Len McCluskey said:

“The government has failed in making its contribution to controlling inflation with its disastrous VAT rise. However, at a time when ordinary workers’ pay is virtually stagnant, and exports are crucial to the UK economy, a rise in interest rates would hurt growth. Unite urges the Bank of England to hold its nerve.

“On the day that we see just how hard it is for ordinary families to keep up with the increasing cost of living, its outrageous to see just how easy it is for investment bankers to rake in millions, thanks to the support of the taxpayer and the inaction of the Tory-led government.”

ENDS

Contact: Ciaran Naidoo on 07768 931 315