Commenting on today’s decision to raise interest rates to five per cent, STUC Assistant Secretary, Stephen Boyd, said:
“Today’s rise comes as no surprise and can be assessed as a sensible response to rising inflationary pressures. That said, the STUC would be concerned if it signalled an upwards trend for the New Year. UK unemployment is creeping up, fuel costs are falling and further rises will jeopardise recent improvements in manufacturing”.
ENDS
For further information contact Stephen Boyd 0141 337 8100