Latest updates: chief secretary to the Treasury says high pay awards will risk spiralling inflation as millions prepare for train strike
Minister suggests Bank of England governor was right in February to warn about dangers of inflationary pay demandsthe chief secretary to and the Treasury, said in his morning interviews about the rail strike, and pay awards generally.earlier this year for saying people should not expect big pay rises – when he is now saying exactly the same thing.From what I understand, and it is early days, [proposed public sector pay] awards are coming in at a sensible level, which is great.
It’s important that we wait and see what those awards are, and then obviously it will be for individual workforces and the trade unions to respond. But I do think people have to recognise, if we’re going to forestall the evil of inflation – inflation destroys savings, it destroys growth. It damages any economy where it gets an endemic grip – then we are going to have to show collective, society-wide responsibility.Treasury minister says workers in private and public sectors should not expect pay rises to match inflation
Good morning. Inflation is at its highest level for 40 years and Britain’s return to the economic landscape of the 1970s/1980s will take a step forward this week with the biggest national railstrike for a generation. In several other key public services,
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
$3.5b to be spent on Queensland rail projects in state budgetTreasurer Cameron Dick announced the outlay on Sunday while marking a major milestone for the Cross River Rail project.
Read more »
'Politically motivated': UK criticises European court intervention in Rwanda asylum seeker planUK Prime Minister Boris Johnson says he's confident of the legality of his government's plan to send some asylum seekers to Rwanda, despite the first flight being blocked at the last minute by the European Court of Human Rights.
Read more »
Ukrainians face a homeless future in the UK thanks to red tape on rentingStringent checks may see families left in the lurch when six-month Homes for Ukraine placements end
Read more »
UK will not yield to ‘Ukraine fatigue’, says PM on return from KyivBoris Johnson reaffirms commitment to provide long-term ‘strategic resilience’ to help expel Russian troops
Read more »
Ed Sheeran was the most-played artist of 2021 in the UKThe pop star’s single Bad Habits was also the most-played song of last year, according to new data from music licensing company PPL
Read more »
Ed Sheeran was the most-played artist of 2021 in the UKThe pop star’s single Bad Habits was also the most-played song of last year, according to new data from music licensing company PPL
Read more »