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Business Sec To Deliver Statement On Anti-Strike Bill ~1230GMT

UK

Secretary of State for Business, Energy and Industrial Strategy Grant Shapps is set to deliver a statement to the House of Commons around 1230GMT (0730ET, 1330CET) regarding the gov'ts proposed legislation that would require minimum service levels to be provided during periods of industrial action in some specific sectors.

  • While garnering headlines for some time in the UK, the sustained period of strike action across sectors including healthcare, postal services, and railways has not had an impact on market sentiment.
  • However, the longer the strikes continue - particularly in the healthcare sector where polls show public opinion firmly behind healthcare workers and against the gov't - the greater the impact on public finances and the future fiscal options open to the gov't.
  • Should the gov't be forced into major pay offers to striking workers it will impact on the ability of PM Rishi Sunak's gov't to bring down household or corporate taxes in the coming years (a stated aim of Sunak and Chancellor Jeremy Hunt).
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