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WRDA represents women's views at BOE Interest Rates meeting

25th September 2015

WRDA attended a meeting in NICVA on Thursday 17th September along with representatives from the community & voluntary sector. Andy Haldane, Chief Economist at the Bank of England, explained to the grouping that interest rates are set by the Bank’s Monetary Policy Committee (MPC), who the nine members of the MPC are and the processes involved in reaching their decision.

All the community & voluntary sector representatives were able to discuss the key issues within their communities and Anne Mc Vicker reflected the views and concerns of women within the Women’s Regional Consortium and the wider women’s sector. Anne outlined the vital services provided by women and how they are being disproportionately threatened by the current spate of funding cuts. She drew attention to the front line services delivered by women’s groups and organisations, including trauma counselling, support for those affected by domestic and sexual abuse, mental and physical health, education, training and employability, childcare, early years, after school and family support, diversity and community planning services. Anne stressed that there is no one department with responsibility for all these services, as the women’s sector receive funding across all government departments.

The conclusions drawn from the meeting were than in the current economic climate and the implementation of austerity measures, an increase in the interest rate by the Bank of England would compound the hardship experienced by many living in disadvantaged and rural communities.

 

 

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