Hiking up interest rates is the wrong choice

Unite general secretary Sharon Graham said: “Yet again the Bank of England is making the wrong choice - inflicting pain on ordinary households across the UK by hiking up interest rates.

“This latest rise is nothing more than a hand-out to the banks who have already made bumper profits from 12 other interest-rate hikes. The 13th could put hundreds of thousands of mortgage holders in peril of not being able to pay their mortgage.

“Instead of blaming inflation on workers’ wage rises it’s high time the Governor of the Bank of England tackled the profiteers of corporate Britain. They are to blame for the current crisis.”

ENDS

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Unite is the leading union in the UK and Ireland, dedicated to defending and improving members' jobs, pay and conditions. The general secretary is Sharon Graham