Interest rate rise sends another `cold chill’ across UK households
- Thursday 22 September 2022
Unite demands excess profits used to ease household pain
Commentating on the latest increase in interest rates made today (Thursday 22 September) Unite general secretary Sharon Graham said:
“The latest increase in interest rates sends another cold chill across the UK. Household budgets are already stretched beyond reason by surging prices. There has to be some respite for workers but the Bank of England is piling on the pain.
“It remains remarkable that, in the teeth of all the evidence, the Bank is refusing to countenance that the record-breaking excessive profits have to be tackled to address inflation. Instead, it chooses to place this hideous burden on those who can ill-afford yet more demands on already stretched wages.
“The Bank has a duty to build an economy that works for all. It should be pointing to the £15 billion in excess profits made by the energy sector alone and saying that money needs to be better used providing assistance to those struggling, not providing more comfort to the super-rich.
“Workers need immediate assistance to deal with all aspects of the cost of living crisis, the limited help being offered by the government has been too little and too late.”
Notes to editors
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.