UK rail workers will launch a five-day strike, in addition to two 48-hour strikes involving 40,000 RMT members, as a prolonged recession looms in 2023.
British rail workers disrupted their return to work on Tuesday following the year-end holidays. It was the latest strike by workers from various industries in response to a record high inflation crisis.
Workers across the economy are at odds with the government, demanding massive wage increases to combat decades of high inflation, which is currently hovering at around 11%.
Five days of strike activity beginning Tuesday included two 48-hour strikes by approximately 40,000 RMT members. In addition, the Athleph union will also go on strike on Thursday.
In that context, the Railroad Union was urged back to the negotiating table by Secretary of Transportation Mark Harper.
“The unions have decided they want to go on strike this week, but this is going to be very useless, damaging the rail industry and hurting the interests of the people who work there,” he said, adding, “I hope they don’t come back.” I want to see it,” he added. Then an arrangement can be put together between the employer and the union. ”
Last year, Prime Minister Rishi Sunak told a Watchdog MP panel that “the best way to help them and help everyone else in the country is for us to figure out and bring inflation down as soon as possible.” .
A long and difficult recession awaits
With the long-term inflationary effects of the pandemic and turmoil in Ukraine, the UK said: financial times Through 2023, the country is experiencing one of the longest recessions and worst recoveries among the G7 countries, according to reports.
of FT The report cited a prominent economist who said the UK would face the longest period of ‘inflation shock’.
Callum Pickering, senior economist at Berenberg Bank, said: FT, “The combination of falling real wages, tight financial conditions and a correction in the housing market is the worst.”
The UK economy is “abnormally exposed” to the global surge in energy prices and interest rates, according to the report. This is because the country’s gas demand rarely matches its storage capacity, and a significant number of mortgage contracts have to renew fixed rate contracts.
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