Unite Press Release 

For immediate release: Thursday 11 May 2023

Interest rates: businesses, mortgage holders, and renters pay the price

This medicine is killing the patient. 

Commenting on the Bank of England’s decision to raise interest rates for the twelfth consecutive time, Unite general secretary Sharon Graham said:  “Every time interest rates rise the banks make bonanza profits - now in the billions. Meanwhile businesses, mortgage holders, and renters pay the price. This medicine is killing the patient. 

“The Bank of England again are behind the curve. Whether it be asking the country to take a national pay cut or blindly increasing interest rates, the Bank of England is not living in the real world.”

ENDS

For more information please contact: Ciaran Naidoo on 07768 931 315 

Email: Ci[email protected]

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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