Unite calls on Bank of England to hold its nerve on interest rates
15 January 2011
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, it is
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
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