Modelling by the Centre for Economics and Business Research shows the direct cost of the single day's action will be £94m, with a further estimated £100m hit to hospitality sectors as footfall vanishes
Mr Thompson said while the estimate of the cost to the economy of Wednesday’s disruption could not yet be estimated, he added: “I would, however, add that the economic hit [of Wednesday’s action] is likely to be more than the sum of its components; with overlapping disruption from multiple services being down, many may treat the multi-strike day as a mini-lockdown.”
“Employers will continue to be flexible where they can with workers who are affected by these strikes, but the impact on the economy is particularly difficult to manage when they are already facing severe labour shortages.” “The situation is entirely avoidable but provides yet another pressure for a sector contending with soaring energy costs, workforce challenges and dampening consumer confidence.
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