Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    ;
    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Top Stories > Thousands walk out in Britain’s biggest rail strike in 30 years as Johnson vows to stay firm
    Top Stories

    Thousands walk out in Britain’s biggest rail strike in 30 years as Johnson vows to stay firm

    Thousands walk out in Britain’s biggest rail strike in 30 years as Johnson vows to stay firm

    Published by Jessica Weisman-Pitts

    Posted on June 21, 2022

    Featured image for article about [object Object]

    By Kylie MacLellan and Farouq Suleiman

    LONDON (Reuters) -Tens of thousands of workers walked out on the first day of Britain’s biggest rail strike in 30 years on Tuesday with passengers facing further chaos as both the unions and government vowed to stick to their guns in a row over pay.

    Some of the more than 40,000 rail staff who are due to strike on Tuesday, Thursday and Saturday gathered at picket lines from dawn, causing major disruption across the network and leaving major stations deserted. The London Underground metro was also mostly closed due to a separate strike.

    Prime Minister Boris Johnson, under pressure to do more to help Britons facing the toughest economic hit in decades, said the strike would harm businesses still recovering from COVID.

    Unions have said the rail strikes could mark the start of a “summer of discontent” with teachers, medics, waste disposal workers and even barristers heading for industrial action as inflation pushes 10%.

    “The British worker needs a pay rise,” Mick Lynch, secretary-general of the Rail, Maritime and Transport Workers told Sky News. “They need job security and decent conditions.”

    During the morning rush-hour, roads were busier than normal with cars, bikes and pedestrians. Hospital staff said some colleagues slept at work overnight to maintain care.

    Johnson told his cabinet the strikes were “wrong and unnecessary” and said his message to the country was that they needed to be ready to “stay the course” as improvements to the way railways are run was in the public’s interest.

    A survey by pollsters YouGov earlier this month found public opinion divided, with around half of those questioned opposed to the action and just over a third saying they supported it.

    Leo Rudolph, a 36-year-old lawyer who walked to work, said he would become more disgruntled the longer the dispute holds.

    “This isn’t going to be an isolated occurrence, right?” he told Reuters.

    INFLATION FEVER

    Inflation has soared across Europe on the back of a major rise in energy costs and Britain is not alone in facing strikes.

    Action over the cost of living in Belgium caused disruption at Brussels Airport on Monday, while Germany’s most powerful union is pushing for large wage increases and in France President Emmanuel Macron is facing unrest over pension reforms.

    Britain’s economy initially rebounded strongly from the COVID-19 pandemic but a combination of labour shortages, supply chain disruption, inflation and post-Brexit trade problems has prompted warnings of a recession.

    The government says it is supporting millions of the poorest households but it warns that above-inflation pay rises would damage the fundamentals of the economy and prolong the problem.

    Britain’s railways were effectively nationalised in the pandemic, with train operating companies paid a fixed fee to run services, while the tracks and infrastructure are managed by state-owned Network Rail.

    The RMT wants its members to receive a pay rise of at least 7%, but it has said Network Rail offered 2%, with another 1% linked to industry reforms that it opposes. The government has been criticised for not being involved in the talks. Ministers say unions must resolve it directly with employers.

    The outbreak of industrial action has drawn comparison with the 1970s, when Britain faced widespread labour strikes including the 1978-79 “winter of discontent”.

    The number of British workers who are trade union members has roughly halved since the 1970s with walkouts much less common, in part due to changes made by former Prime Minister Margaret Thatcher to make it more difficult to call a strike.

    The government says it will now change the law quickly to force train operators to deliver a minimum service on strike days, and allow employers to bring in temporary staff.

    The strikes come as travellers at British airports experience chaotic delays and last-minute cancellations due to staff shortages, while the health service is teetering under the pressure of long waiting lists built up during the pandemic.

    (Additional reporting by Paul Sandle, Editing by Edmund Blair, Kate Holton and Raissa Kasolowsky)

    Related Posts
    Australia begins enforcing world-first teen social media ban
    Australia begins enforcing world-first teen social media ban
    Australia social media watchdog sees common cause with US as age ban begins
    Australia social media watchdog sees common cause with US as age ban begins
    French power supply outpacing demand as electrification lags, grid operator says
    French power supply outpacing demand as electrification lags, grid operator says
    Yen weak, dollar steady in countdown to Fed
    Yen weak, dollar steady in countdown to Fed
    Australia says it will meet 'challenges' of AUKUS nuclear submarine timeline
    Australia says it will meet 'challenges' of AUKUS nuclear submarine timeline
    Russian bombers join Chinese air patrol near Japan as Tokyo-Beijing tie strains
    Russian bombers join Chinese air patrol near Japan as Tokyo-Beijing tie strains
    Dutch pension fund manager APG cuts up to 1,200 jobs
    Dutch pension fund manager APG cuts up to 1,200 jobs
    Britons watch YouTube for 51 minutes a day, regulator Ofcom says
    Britons watch YouTube for 51 minutes a day, regulator Ofcom says

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe