Union urges action to prevent haemorrhage of manufacturing staff

A
leading union figure has warned that at least 100,000 jobs in manufacturing
could be lost, unless interest rates are cut.

Roger
Lyons, general secretary of the Manufacturing Science and Finance Union, said
that the jobs could be lost before Christmas.

He
warned of a "haemorrhage" of staff in the sector before the end of
the year, unless action is taken.

"The
US and European central banks have cut interest rates right back to defend
their economies," Lyons told Sky News.

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"Our
monetary policy committee must throw its misplaced caution to the wind to
protect our economy. We are in the midst of a global crisis and now is not the
time for half measures," added Lyons.

By
Ross Wigham