Unite urges the Bank of England to continue its balancing act
Tuesday, 22 March 2011
12:00 AM
"We do not live in ordinary times, Britain's economy is on a tightrope and the Bank of England needs to continue its balancing act by leaving interest rates alone.
"The latest inflation figures show just how tough it is for working families struggling to afford the most basic necessities, like food and fuel. A rise in interest rates now would only make things even worse for homeowners with mortgages, and Britain's exporters who are crucial for growth given the government's austerity drive has neutralised domestic demand for goods and services.
George Osborne is presiding over high inflation when living standards are falling, but he cannot squeeze a penny more out of working people."
ENDS
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