Unite: Don't expect those with the least to tighten their belts first says Union leader

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Monday, 23, Jun 2008 12:00

Derek Simpson, joint leader of Unite will today call on the Government to focus on the real culprits of the credit crunch and the worsening economy rather than expecting those with the least to tighten their belts first.

In an interview with Union TV screened at 10.30am and 7pm on Monday 24th on RED TV, channel 186 on Sky Digital, Mr Simpson will say that the current economic climate is proof enough that the finance and banking industry must be regulated more tightly.

Mr Simpson says, "The finance industry was left to its own devices and displayed such staggering irresponsibility that we are now experiencing a world economic crisis. Their attempts to drive up profits coupled with rising food and energy prices means that the government now wants to drive down the wages of hard working families. But they never had the nerve to reign in the unrestrained excesses of the boardroom."

Mr Derek Simpson will also say that the government's calls for pay restraint from the lowest earners is unrealistic at a time when incomes are falling.

"The wages of hard working families are not the cause of inflation. We have, a credit squeeze, falling real incomes, rising food and energy costs, a shortage of affordable housing and a higher proportion of taxation falling on the lowest 90% of earners than the top ten.

Ministers have been silent as boardroom pay has run riot. Why should those with the least have to tighten their belts first? It would be irresponsible of us as trade unionists not to represent our members at the negotiating table in forthcoming pay rounds.

Yes, we face economic problems. But it is not trade union members and the low paid who should carry the can for them."

ENDS

For further information contact: Richard O'Brien on 07768 931 320 or Ciaran Naidoo 0776 8931 315