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Bank of England staff reject pay rise offer despite Gov Andrew Bailey urging workers to restrain

Even Bank of England employees are rejecting pay raise offers, despite Governor Andrew Bailey urging workers to exercise restraint

  • Workers urged to ‘do their part’ to help curb inflation, now at 11 percent
  • But unions at the Bank have rejected the offer of a three percent wage increase
  • Bank says it will continue to negotiate with Unite, which represents 600 workers

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Bank of England’s embattled Governor Andrew Bailey has urged workers to exercise restraint in their wage negotiations, but his own staff are turning a deaf ear.

Despite being urged to ‘do their part’ to curb inflation, which now stands at 11 percent, the Bank’s unions have rejected the offer of a three percent wage increase.

The bank says it will continue to negotiate with Unite, which represents 600 workers at the 300-year-old institution in the town’s Threadneedle Street, while remaining “aware of cost-of-living pressures on colleagues.”

A Unite spokesman would not disclose his wage demands, other than to say it was “not necessarily followed by inflation.”

Bank Of England'S Embattled Governor Andrew Bailey Has Urged Workers To Exercise Restraint In Their Wage Negotiations, But His Own Staff Are Turning A Deaf Ear. [File Image]

Bank of England’s embattled Governor Andrew Bailey has urged workers to exercise restraint in their wage negotiations, but his own staff are turning a deaf ear. [File image]

1670117857 313 Bank Of England Staff Reject Pay Rise Offer Despite Gov

1670117857 313 Bank Of England Staff Reject Pay Rise Offer Despite Gov

Bailey, 63, who was widely criticized for his work, sparked anger earlier this year after he “couldn’t remember” his own salary of £575,000. Pictured: Mr Bailey will appear before the House of Lords Economics Committee in London in December 2021

The spokesman added: “Unite remains in negotiations with the Bank of England over wages. The original offer was rejected by members’.

Bailey, 63, who was widely criticized for his work, sparked anger earlier this year when he “couldn’t remember” his own salary of £575,000.

He told MPs: ‘Um, it’s over £500,000 somewhere – I can’t tell you exactly what it was, I don’t carry that in my head.’

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Jacky

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