The governor of the Bank of England has sparked backlash after telling Britons they should not ask for a pay raise this year despite rising living costs.
The governor of the Bank of England has sparked serious backlash after telling Britons they should not ask for a pay raise this year.Bailey told the BBC last week that businesses should assert “restraint” in pay negotiations to help battle 30-year high inflation.
Speaking to the BBC hours after the central bank imposed back-to-back interest rate hikes, the governor said businesses should assert "restraint" in pay negotiations to help battleWhen asked by the BBC whether the Bank was asking workers not to demand big pay rises, Bailey said: "Broadly, yes." , and bring it closer in line with its 2% benchmark. But the governor's comments suggest that employees should be proactive, too, to avoid further escalation.
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