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First strike at Bank of England for 50 years

Tuesday, August 01, 2017 - 00:54

Staff strike at the Bank of England over pay, highlighting growing pressure on the government to lift a cap on public-sector wages. Lucy Fielder reports.

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It's the first strike at the Bank of England for more than 50 years. And it's embarrassing for an institution that scrutinises wage growth in the UK. Maintenance and security staff wearing masks of Governor Mark Carney. Highlighting growing pressure on the Conservative government to end tight controls on public sector wages. Although it's independent of the government, the Bank of England has limited pay rises to one percent for its staff, in line with other public bodies. That's below inflation, which has risen faster than wages for most of the past decade. Tuesday (August 1) is the first of a planned three-day-long strike at bank, which is more than three hundred years old. If it lasts that long, it will coincide with so-called 'super Thursday' (August 3). When Britons will find out whether record-low interest rates could soon be lifted for the first time in more than a decade.

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First strike at Bank of England for 50 years

Tuesday, August 01, 2017 - 00:54