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Interest rate rise 'risks firing starting gun on recession'

17 Mar 2022
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GMB Union said today’s decision by the Bank of England to raise interest rates ‘risks firing the starting gun on a recession’. 

Gary Smith, GMB General Secretary, said:

“Andrew Bailey seems determined to risk firing the starting gun on a path to recession. 

“GMB called on the Bank of England not to raise interest rates, to reduce costs on homeowners and avoid choking off business investment.

“Mr Bailey today missed a chance to do something positive for working people, after his callous calls for them to not take a pay rise.”

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