Wednesday, May 25, 2022
ac.news

AC News
Alternative Central News
The True Patriot

  • Main
Menu
No Result
View All Result
ac.news
No Result
View All Result

‘Sick joke’: BoE boss calls for pay rise ‘restraint’ to help control inflation amidst worst drop in living standards for 3 decades

02/06/2022
in Economy - Business - Finance, Main, Opinion, Politics & Government
A A
0
‘Sick joke’: BoE boss calls for pay rise ‘restraint’ to help control inflation amidst worst drop in living standards for 3 decades

UK: Andrew Bailey was paid £575,538, including pension, in his first year as the Bank’s governor from March 2020.

The governor of the Bank of England has said workers should show restraint when asking for wage rises to help control inflation.

Andrew Bailey said he wanted to see “quite clear restraint” in the annual wage-bargaining process between staff and their employers to help prevent an upward spiral taking hold.

With households expected to face the worst annual fall in their living standards for three decades, he told the BBC’s Today programme that controlling wage increases was key to keeping a grip on inflation.

“I’m not saying nobody gets a pay rise, don’t get me wrong. But what I am saying is, we do need to see restraint in pay bargaining, otherwise it will get out of control,” he said.

The governor’s comments drew a sharp response from trade unions, with workers expected to face a drop in their incomes this year. Gary Smith, the general secretary of the GMB trade union, said Bailey’s comments were a “sick joke”.

He said: “The nerve of Mr Bailey is scarcely credible. Telling the hard-working people who carried this country through the pandemic they don’t deserve a pay rise is outrageous.”

Bailey was paid £575,538, including pension, in his first year as the Bank’s governor from March 2020, more than 18 times higher than the £31,285 median annual pay for full-time employees in the UK.

Union density in the private sector has fallen steadily since the 1970s, when high rates of inflation were fuelled by high pay settlements, to about 13%. Official figures show average weekly earnings after taking account of inflation fell in November, and remain below their pre-2008 financial crisis peak.

Kate Bell, the head of economics at the TUC, said inflation was being driven by rising energy costs, not pay demands.

“Working people need a pay rise now. And the best way to get one is to join a union,” she said.

The Bank raised interest rates from 0.25% to 0.5% on Thursday, adding to borrowing costs for consumers and businesses in a move designed to keep a lid on high rates of inflation. The central bank warned inflation could rise from the current rate of 5.4% to a peak of about 7.25% by April amid an increase in energy costs, more than three times its 2% target rate.

High rates of inflation are being driven up by record prices on wholesale energy markets and disruption to global manufacturing and supply chains because of Covid-19. Official figures show wage growth has fallen in recent months close to average pre-pandemic levels. However, the Bank said it forecast wage growth would pick up to about 5% later this year amid record numbers of job vacancies and low rates of unemployment.

After the worst decade during the 2010s for average pay growth since the Napoleonic wars, the Bank forecasts disposable incomes are on track to shrink by 2% this year, the biggest drop since comparable records began in 1990.

The governor’s call for pay restraint comes after Boris Johnson said in the autumn he wanted to turn Britain into a high-wage, high-skill economy, and criticised company bosses for wanting to bring in cheaper workers from the EU.

 

by Richard Partington

Join: 👉  https://t.me/acnewspatriots

Source: sott.net
Previous Post

AI ‘Nanny’ Being Created By Chinese Scientists To Grow Babies In Robot Wombs

Next Post

Governor General Overwhelmed By Demand To Remove Trudeau From Office

Next Post
Governor General Overwhelmed By Demand To Remove Trudeau From Office

Governor General Overwhelmed By Demand To Remove Trudeau From Office

Comments and discussions are also open in our Telegram @acnewspatriots where all articles are automatically displayed

Discussion about this post

Latest Videos

edit post
Babies are Delivered Alive and Their Beating Hearts Cut Out Without Anesthesia to Develop Vaccines   (VIDEO  12 min)
Freedom & Human Rights

Babies are Delivered Alive and Their Beating Hearts Cut Out Without Anesthesia to Develop Vaccines (VIDEO 12 min)

05/09/2022
edit post
Germany and Switzerland suddenly urge citizens to become PREPPERS   (VIDEO  12 min)
Army War Terrorism

Germany and Switzerland suddenly urge citizens to become PREPPERS (VIDEO 12 min)

05/09/2022
edit post
Conspiracy Chat with Greg Reese | Episode 15   (VIDEO 80 min)
Conspiracy UFO Mystery

Conspiracy Chat with Greg Reese | Episode 15 (VIDEO 80 min)

05/08/2022
edit post
BREAKING: Vice President of Pfizer ARRESTED following release of 1000’s of DAMNING documents   (VIDEO 7 min)
Freedom & Human Rights

BREAKING: Vice President of Pfizer ARRESTED following release of 1000’s of DAMNING documents (VIDEO 7 min)

05/08/2022
edit post
Peace Love & Justice If You Want It   (VIDEO 6 min)
Army War Terrorism

Peace Love & Justice If You Want It (VIDEO 6 min)

05/08/2022
edit post
Dr. Judy Mikovits “WARNING TO HUMANITY!”    (VIDEO 88 min)
Health

Dr. Judy Mikovits “WARNING TO HUMANITY!” (VIDEO 88 min)

05/08/2022
edit post
WARNING: The Next Pandemic Could Destroy The U.S. Farm Industry    (VIDEO 4 min)
Main

WARNING: The Next Pandemic Could Destroy The U.S. Farm Industry (VIDEO 4 min)

05/08/2022
edit post
Dr. Gaston has DECODED a vaccine exemption strategy that WORKS (VIDEO 70 min)
Health

Dr. Gaston has DECODED a vaccine exemption strategy that WORKS (VIDEO 70 min)

05/08/2022
edit post
Deep State Losing The Information War Badly    (VIDEO 63 min)
Economy & Biz

Deep State Losing The Information War Badly (VIDEO 63 min)

05/08/2022
edit post
Artificial womb farms now being prepared – Mommy and Daddy no longer needed   (VIDEO 7 min)
Freedom & Human Rights

Artificial womb farms now being prepared – Mommy and Daddy no longer needed (VIDEO 7 min)

05/08/2022
edit post
Bill Gates’ GERM Team Lays Out Gameplan for Global Corporate Medical Tyranny Takeover   (VIDEO 23 min)
Freedom & Human Rights

Bill Gates’ GERM Team Lays Out Gameplan for Global Corporate Medical Tyranny Takeover (VIDEO 23 min)

05/07/2022
edit post
Health Ranger Report with Mike Adams ft. John Rubino    (VIDEO 23 min)
Health

Health Ranger Report with Mike Adams ft. John Rubino (VIDEO 23 min)

05/07/2022
edit post
Situation Update, May 6, 2022 – Biden using Ukraine theater of war to DISPOSE of America’s munitions arsenal   (VIDEO 80 min)
Army War Terrorism

Situation Update, May 6, 2022 – Biden using Ukraine theater of war to DISPOSE of America’s munitions arsenal (VIDEO 80 min)

05/07/2022
edit post
MEDIA BLACKOUT – RADY JOHNSON – THE EXECUTIVE VICE PRESIDENT OF PFIZER IS ARRESTED   (VIDEO 1 min)
Freedom & Human Rights

MEDIA BLACKOUT – RADY JOHNSON – THE EXECUTIVE VICE PRESIDENT OF PFIZER IS ARRESTED (VIDEO 1 min)

05/07/2022
edit post
CDC Lifts Covid Vaccines Off Shelves For Risk Of Blood Clotting   (VIDEO  12 min)
Freedom & Human Rights

CDC Lifts Covid Vaccines Off Shelves For Risk Of Blood Clotting (VIDEO 12 min)

05/07/2022
edit post
The Creature From Jekyll Island: What You Were Never Taught About The Federal Reserve…   (VIDEO 21 min)
Economy & Biz

The Creature From Jekyll Island: What You Were Never Taught About The Federal Reserve… (VIDEO 21 min)

05/07/2022
edit post
Food Supply Shutdown:  Deer, fish, pigs euthanized; crops not planted
Economy & Biz

Food Supply Shutdown: Deer, fish, pigs euthanized; crops not planted

05/06/2022
edit post
Video: Rand Paul Grills DHS Head On Creepy ‘Ministry Of Truth’
Main

Video: Rand Paul Grills DHS Head On Creepy ‘Ministry Of Truth’

05/06/2022
edit post
GENIUS BILL GATES IS LITERALLY KILLING IT! MEANWHILE, ABORTION IS THE NEW PSYOP   (VIDEO  62 min)
Economy & Biz

GENIUS BILL GATES IS LITERALLY KILLING IT! MEANWHILE, ABORTION IS THE NEW PSYOP (VIDEO 62 min)

05/06/2022
edit post
Russia Makes Slow & Steady Progress in Donbas: Update on Russian Military Ops in Ukraine
Army War Terrorism

Russia Makes Slow & Steady Progress in Donbas: Update on Russian Military Ops in Ukraine

05/06/2022

Top Stories

Posobiec Gives Details Of Davos Detention

Posobiec Gives Details Of Davos Detention

05/24/2022
Major Supermarkets to ban paying with Cash or Card and only accept payments via Digital ID & Facial Recognition Technology

Major Supermarkets to ban paying with Cash or Card and only accept payments via Digital ID & Facial Recognition Technology

05/24/2022
Official Data shows Children are up to 303x more likely to die following Covid-19 Vaccination than Unvaccinated Children & the ONS is trying to hide it

Official Data shows Children are up to 303x more likely to die following Covid-19 Vaccination than Unvaccinated Children & the ONS is trying to hide it

05/23/2022
David Icke Speech At Downing Street, London – Worldwide Freedom Day   (VIDEO 26 min)

David Icke Speech At Downing Street, London – Worldwide Freedom Day (VIDEO 26 min)

05/23/2022
BUSTED: Bill Gates Ran Wargame That Simulated Global Monkeypox Pandemic Killing Millions

BUSTED: Bill Gates Ran Wargame That Simulated Global Monkeypox Pandemic Killing Millions

05/23/2022
Five Warning Signs the End of Dollar Hegemony Is Near… Here’s What Happens Next

Five Warning Signs the End of Dollar Hegemony Is Near… Here’s What Happens Next

05/23/2022
The New World Order Prepares Their Final Attack   (VIDEO 5 min)

The New World Order Prepares Their Final Attack (VIDEO 5 min)

05/22/2022
‘Imagine The Compliance’: Pfizer CEO Pitched Davos Elites On WiFi Microchip Pills

‘Imagine The Compliance’: Pfizer CEO Pitched Davos Elites On WiFi Microchip Pills

05/22/2022
Dr. Zelenko – The [DS] Failed, The Vaccination Agenda Did Not Work, The Cures Are Out There   (VIDEO 57 min)

Dr. Zelenko – The [DS] Failed, The Vaccination Agenda Did Not Work, The Cures Are Out There (VIDEO 57 min)

05/22/2022
The Measured Voice of F.William Engdahl: WHO Pandemic Treaty: ‘A Stealth Coup to Dictate Global Health Agenda of Gates, Big Pharma’

The Measured Voice of F.William Engdahl: WHO Pandemic Treaty: ‘A Stealth Coup to Dictate Global Health Agenda of Gates, Big Pharma’

05/22/2022
FDA is “rotten to the core,” says Dr. Robert Malone – the agency knew all along that covid “vaccines” cause viral replication

FDA is “rotten to the core,” says Dr. Robert Malone – the agency knew all along that covid “vaccines” cause viral replication

05/21/2022
United States DOD Issued a Contract for ‘COVID-19 Research’ in Ukraine 3 Months Before COVID-19 Officially Existed

United States DOD Issued a Contract for ‘COVID-19 Research’ in Ukraine 3 Months Before COVID-19 Officially Existed

05/21/2022
Swiss Military Give Schwab 5,000 Troops and ‘No-Fly Zone’ for This Year’s Davos Summit

Swiss Military Give Schwab 5,000 Troops and ‘No-Fly Zone’ for This Year’s Davos Summit

05/21/2022
Children’s risk of Death increases between 8100% and 30,200% following Covid-19 Vaccination compared to Unvaccinated Children according to official ONS data

Children’s risk of Death increases between 8100% and 30,200% following Covid-19 Vaccination compared to Unvaccinated Children according to official ONS data

05/20/2022
Leaked Pfizer documents show a doctor with ties to the Gates Foundation removed a clinical trial participant’s list of adverse vaccine effects.

Leaked Pfizer documents show a doctor with ties to the Gates Foundation removed a clinical trial participant’s list of adverse vaccine effects.

05/20/2022
Covid Truths: Unprecedented Attacks on Doctors and Scientific Experts

Covid Truths: Unprecedented Attacks on Doctors and Scientific Experts

05/20/2022
FULL SHOW: Elon Musk Calls Out Democrats, Deep State, And Leftist Hatred In Latest Media Blitz   (VIDEO  144 min)

FULL SHOW: Elon Musk Calls Out Democrats, Deep State, And Leftist Hatred In Latest Media Blitz (VIDEO 144 min)

05/19/2022
‘Biggest shock of our lifetime’: Mike Adams says massive food shortages are coming in explosive interview with “Liberty and Finance”

‘Biggest shock of our lifetime’: Mike Adams says massive food shortages are coming in explosive interview with “Liberty and Finance”

05/19/2022
Bill Gates Says The Code In mRNA Vaccines Can Be Updated Without Regulators Noticing

Bill Gates Says The Code In mRNA Vaccines Can Be Updated Without Regulators Noticing

05/18/2022
Why are babies in Scotland suddenly dying at a rate that’s 300% higher than normal?

Why are babies in Scotland suddenly dying at a rate that’s 300% higher than normal?

05/18/2022

Archives

<
May 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
▼
>
MonTueWedThuFriSatSun
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
    123
45678910
11121314151617
18192021222324
252627282930 
       
 123456
78910111213
14151617181920
21222324252627
28293031   
       
 123456
78910111213
14151617181920
21222324252627
28      
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      
  12345
6789101112
13141516171819
20212223242526
2728293031  
       
1234567
891011121314
15161718192021
22232425262728
2930     
       
    123
45678910
11121314151617
18192021222324
25262728293031
       
  12345
6789101112
13141516171819
20212223242526
27282930   
       
      1
2345678
9101112131415
16171819202122
23242526272829
3031     
   1234
567891011
12131415161718
19202122232425
262728293031 
       
 123456
78910111213
14151617181920
21222324252627
282930    
       
     12
3456789
10111213141516
17181920212223
24252627282930
31      

Contact Us

    © AC.news  | Notice On Rasism | Privacy Policy | Terms and Conditions

    No Result
    View All Result
    • Main
    • Opinion
    • Politics & Government
    • Crime – Terrorism – Corruption
    • Health – Medicine – Big Pharma
    • Freedom – Resistance – Censorship
    • Science & Tech
    • Army – Wars – Military
    • Economy – Business – Finance
    • Society – Family – Education
    • Media – Curiosities – Entertainment
    • Ecology – Climate – Ecoterrorism
    • NWO – Deep State – Tyrrany
    • Disasters – Survival – Prepping
    • History & Religions
    • Depopulation – Genocide
    • Immigration – Islam – Jihad
    • Racism – Gender – LGBTI
    • Mysteries – Paranormal – UFO
    • Spiritual
    • Videos

    © 2022 AC.news