RCN calls for Banks to pass on the interest rate cut to ease the hardship faced by many this winter
Published: 08 January 2009
The Royal College of Nursing (RCN) today called for high street Banks to pass on the Bank of England’s record cut in interest rates to all their customers, to prevent further hardship this winter.
Dr Peter Carter, RCN Chief Executive & General Secretary, said:
“We have heard from many nurses over recent months who are struggling with debts and the costs of living. Many are also facing the prospects of their homes being repossessed if they cannot keep up repayments, and financial pressures are leading many students to drop out of their courses.
“We would urge the government to press Banks further on helping people in difficulty with mortgage repayments as well as passing on this rate cut in full. This would not only help to mitigate the effects of the downturn on nurses, but also to prevent the pressures on health services which will follow from increasing hardship in wider society”.
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Notes for Editors
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Royal College of Nursing (RCN) is the voice of nursing across the UK and is the largest professional union of nursing staff in the world. The RCN promotes the interest of nurses and patients on a wide range of issues and helps shape healthcare policy by working closely with the UK Government and other national and international institutions, trade unions, professional bodies and voluntary organisations.