Interest rate increase places extra pressure on squeezed households
- Thursday 3 February 2022
Commenting on the Bank of England’s decision to increase interest rates by 0.25 per cent, to 0.5 per cent, Unite general secretary Sharon Graham said:
“Families across the UK are facing a triple whammy of rising interest rates, surging inflation and energy prices rising dramatically this spring.
“The government has completely failed to put forward any meaningful solutions to relieve the intense squeeze on household incomes.
“Each and every increase in interest rates will result in households who were just managing to keep their heads above water, starting to go under.
“Unite is the union which is dedicated to defending the jobs, pay and conditions of its members. Central to that commitment is ensuring that workers receive a fair day’s pay for a fair day’s work.”
Notes to editors:
During the coronavirus crisis Unite is working to keep workers and the public safe, to defend jobs and to protect incomes.
For media enquiries ONLY please contact Unite senior communications officer Barckley Sumner on 07802 329235 or 0203 371 2067.
Email: [email protected]
Unite is the UK and Ireland’s leading union fighting to protect and advance jobs, pay and conditions for members working across all sectors of the economy. The general secretary is Sharon Graham.