Commenting on today’s (Thursday) decision by the Bank of England to raise interest rates to 0.75%, the TUC’s Head of Economics Kate Bell said:

“In the midst of a cost-of-living crisis, this is the last thing hard-pressed families need. Real wages are falling at the steepest rate in eight years. Working people don’t need to be told to hold back their pay.

“The Bank of England has made the wrong call – but the government must not hide behind it.

“The chancellor needs to set out a plan to get wages rising in the spring statement – and to help families with soaring energy bills.”