Soaring profits are a bonanza for executives and shareholders, but all that’s on offer for workers are real-terms pay cuts
These days there is a lot of talk about a “cost of living crisis”, but as Unite’s most recent research confirms, we should actually be talking about a cost of profiteering crisis. From rising supermarket prices, to energy bills, to transport costs, we are all paying the price.
Take UK Power Networks, the National Grid power distributor. Last financial year, according to Companies House, it made a staggering £1.3bn pre-tax profit. Billions in profit, bonanzas for the executives and shareholders, while there are only real pay cuts on offer for workers.
