Rail and Tube strikes are set to cripple services this week, causing travel chaos for passengers across the UK as members of the Rail, Maritime and Transport (RMT) union at Network Rail and 13 train operators are going on strike.
Business chiefs have warned that continued strike actions would cause “incredible” damage to the UK in both the short-term and long-term as firms brace themselves for heavy disruption.
Economists at the Centre for Economics and Business Research (CEBR) have warned that the three strikes across Tuesday, Thursday and Saturday will have a fallout worth at least £91 million to the UK economy.
Industry leaders have warned that the costs could be even more as travellers and commuters decide to stay at home.
Richard Burge, chief executive of the London Chamber of Commerce and Industry, warned that the capital “cannot afford a summer of chaos on the railways and tube lines”.
The business boss called for the RMT union, Network Rail, and the Government to return to negotiations amid fears that this week’s action could be repeated later this year.
“While this strike will be damaging, a recession is looking likely regardless; as such, I wouldn’t pin an eventual recession on this strike,” he said.