{"id":1210,"date":"2014-09-09T16:52:46","date_gmt":"2014-09-09T15:52:46","guid":{"rendered":"http:\/\/unitelive.org\/?p=1210"},"modified":"2014-09-09T16:52:46","modified_gmt":"2014-09-09T15:52:46","slug":"dont-raise-rates","status":"publish","type":"post","link":"https:\/\/unitelive.test.igniteamt.com\/?p=1210","title":{"rendered":"Don\u00e2\u20ac\u2122t raise rates"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n<div style=\"color: #000000;\">\n<p>Unite delegate and finance sector worker, Dawn McAllister asked Bank of England governor Mark Carney to commit to not increasing the interest rate \u00e2\u20ac\u201c because of the devastating effect it could have on millions of \u00e2\u20ac\u0098over indebted\u00e2\u20ac\u2122 families.<\/p>\n<p>&nbsp;<\/p>\n<p>Dawn said that millions of people had \u00e2\u20ac\u015bto borrow from payday lenders to get through the month because of low wages and cuts in real wages.<\/p>\n<p>&nbsp;<\/p>\n<p>\u00e2\u20ac\u015bAn interest rate rise is likely to have wide social and economic fallout as people can no longer make ends meet and many will face the prospect of losing their homes.<\/p>\n<p>&nbsp;<\/p>\n<p>\u00e2\u20ac\u015bHow much is the Bank of England going to consider this?\u00e2\u20ac\u0165 she asked, adding if wages were to increase, \u00e2\u20ac\u015bwhen would you be looking at whether to raise interest rates?\u00e2\u20ac\u0165<\/p>\n<p>&nbsp;<\/p>\n<p>Mark Carney replied that it was currently unlikely that interest rates would increase \u00e2\u20ac\u201c for the reasons given in his address about capacity in the labour market. He believed the prospect of wage increases was crucial in helping families get back to normal \u00e2\u20ac\u201c but was not imminent.<\/p>\n<p>&nbsp;<\/p>\n<p>He added that a banking review was currently underway as to how banks lent money to new business.<\/p>\n<p>&nbsp;<\/p>\n<p>Speaking to UNITElive Dawn McAllister said she was pleased the interest rate would not be raised at this time. Dawn also welcomed his statement that Bank policy was not allied to any political party.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Unite delegate and finance sector worker, Dawn McAllister asked Bank of England governor Mark Carney to commit to not increasing the interest rate \u00e2\u20ac\u201c because of the devastating effect it could have on millions of \u00e2\u20ac\u0098over indebted\u00e2\u20ac\u2122 families. &nbsp; Dawn said that millions of people had \u00e2\u20ac\u015bto borrow from payday lenders to get through the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1213,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[85],"wps_subtitle":"Increase would hurt families","_links":{"self":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/1210"}],"collection":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1210"}],"version-history":[{"count":1,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/1210\/revisions"}],"predecessor-version":[{"id":1212,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/posts\/1210\/revisions\/1212"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=\/wp\/v2\/media\/1213"}],"wp:attachment":[{"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/unitelive.test.igniteamt.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}