UK train strikes and energy hikes add to a week of turmoil

  • 📰 CP24
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 67%

Energy Energy Headlines News

Energy Energy Latest News,Energy Energy Headlines

Trains in Britain all but ground to a halt Saturday as coordinated strikes by rail workers added to a week of turmoil caused by soaring energy prices and unfunded tax cuts that roiled financial markets.

Only about 11% of train services were expected to operate across the U.K. on Saturday, according to Network Rail. Unions said they called the latest in a series of one-day strikes to demand that wage increases keep pace with inflation that is expected to peak at around 11% this month.

Concern that the plans would push government debt to unsustainable levels sent the pound tumbling to a record low against the dollar this week and forced the Bank of England to intervene in the bond market. Mick Lynch, general secretary of the Rail, Maritime and Transport Workers Union, said the strikes were designed to target the annual conference of Truss's Conservative Party, which begins Sunday in Birmingham, England.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 30. in ENERGY

Energy Energy Latest News, Energy Energy Headlines