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Sterling has today picked up sharply after weeks and weeks of pressure and selling by investors. This comes just ahead of the MPC meeting to decide their next move on UK base rates and until just a...
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Friday 18th July 2008
After this weeks strike by nearly 1 million council workers across the UK it has been announced that staff at the Northern Ireland passport office have voted to strike over pay. This is yet another nail in the coffin of the UK government and has prompted claims that Old Labour is back bigger and stronger than ever!
The Unions have been making serious noises for a number of months now, threatening the government with reduced funding from members unless there is a change in the policy of keeping wage rises lower than inflation. However, Gordon Brown is very much boxed into a corner because there is no money in the pot to increase public sector pay above the current offers on the table. So what next?
There is a real danger that the next two years will see a mushrooming of the number of strikes and with the Unions pushing for secondary picketing rights the situation has the potential to turn ugly. Who would have thought we would see a Labour government fighting the very people who provide finance to the party. Then again, who would have thought that the Treasury would need to borrow billions of pounds just to survive? |
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