By UNISON’s head of policy Sampson Low
The spring forecast this week was a mixed picture, with some good news about inflation and longer-term growth tempered by a downgrading of the UK’s forecasted growth in the immediate future and unemployment predicted to continue to rise to a 5.3% peak before starting to come down.
However, it didn’t take into account the rapidly evolving situation in the Middle East. As the conflict deepens, so does the turmoil in global markets and prices. UNISON remains extremely concerned by the dangerous military escalation which threatens international peace and security, and the lives of millions of civilians across the region.
But its effects are also felt closer to home. The conflict is already having an impact on the UK’s economy as food price inflation starts to rise and likely price increases at the pump for drivers.
If the conflict persists and the price of oil and gas keeps going up, this might start to push up household energy bills and wider price inflation. This in turn could cause the Bank of England to think twice before reducing interest rates, which could affect mortgages.
Headlines about ‘meltdowns’ on the London stock market don’t help but it’s understandable that, when looking at the news, frontline workers may feel anxious about what it means for them and their finances.
UNISON is using every lever available to us to stand up for our members in uncertain times. We are in workplaces and talking to government every single day, making the case for higher pay and better job security, so that ordinary people can afford the basics and more. We’re calling on the government to use any extra headroom in the budget to invest in public services and improve living standards for workers.
We are campaigning in areas that put money back into people’s pockets. For example, pressure from UNISON helped bring about the end of the cruel two-child limit and force a u-turn on PIP reform. We are raising the issues that have a direct impact on workers’ living standards, from outdated mileage rates to improved sick pay.
On the international stage, UNISON is calling on the government to avoid any attempts to drag the UK into any offensive and do all it can to support calls for an end to hostilities, the resumption of peace talks, and a diplomatic solution that upholds international law and the UN Charter.
And for members who are struggling, we have our own charity, There for You, which can provide financial assistance, debt advice and other support when you need it.
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