Bank of England staff to walk out over pay
Pay rise caps set to lead to first strike in fifty years
by Abi Moses on 4th July, 2017
The major political row that has erupted in Westminster seems to be spreading, with The Bank of England on the verge of its first employee strike in over fifty years.
As interest rates continue to rise, workers at the BoE's iconic premises on Threadneedle Street are set to walk out after news that wages will rise by just 1% in the year commencing March 2017.
A broader problem has emerged amongst the UK's workers after ministers voted in favour of capping public sector pay rises at 1% whilst inflation has risen to a four-year high of 2.9%.
Trade union, Unite, have called on Bank of England governor, Mark Carney, to step in and "settle this long-running dispute for the sake of the stability of the bank and the interests of its committed workforce."
Mercedes Sanchez of Unite, slammed Mark Carney's running of The Bank. She said, "Mark Carney needs to get his own house in order. It is nothing short of shameful that the iconic symbol of financial services in the UK is choosing to ride roughshod over the concerns of its dedicated and hardworking staff and impose this derisory pay deal."
Unite, who are representing a number of BoE security and maintenance workers, confirmed in a statement, "Staff are angry that they have been given a below-inflation pay offer for the second year running. The result of this pay award is that up to one-third of the staff will get no pay rise in 2017 whatsoever."
A spokeswoman at the Bank of England encouraged the walk out, she claimed, "Should the strike go ahead, the Bank has plans in place so that all sites can continue to operate effectively."
As well as Labour opposition to the pay rise caps, Prime Minister, Theresa May, has been met by defiance from within her own cabinet. Michael Gove and now foreign secretary, Boris Johnson, have both called for the cap to be lifted.
With pressure increasing on Ms May, Chancellor, Philip Hammond offered his support by claiming the policy is "designed to strike the right balance between being fair to our public servants and to those who pay for them."
$50m aircraft order encourages investor confidence
by Abi Moses on 18th November, 2017
Shares tumbled nearly 5% after downgraded revenue growth forecast
by Abi Moses on 12th November, 2017
Shares in Next dropped nearly 9%
by Abi Moses on 3rd November, 2017