Sunak’s comments come after Bank of England governor Andrew Bailey expressed concerns that pay increases were fuelling inflation.
The Bank of England is now under renewed pressure to raise interest rates next month after wages jumped more than expected in June, boosted by a one-off payment to NHS workers.
However, amid recent inflation and rising interest rates, trade unions have taken issue with the apparent blame attached by Bailey and others to wage demands by low and middle earners.
The Trades Union Congress (TUC) general secretary, Paul Nowak, said on Tuesday: “Real wages are still worth less today than in 2008 after the longest pay squeeze in 200 years.
An analysis in June by the TUC also found that pay rises for the top 10% of UK earners, including City bosses, had clearly outstripped the rest of the workforce and had been a prime driver of recent inflation and interest rates.
Sunak trumpeted the public sector pay offers that the government had extended to NHS workers, teachers and others and called for an an end to industrial action by doctors.
This is the best summary I could come up with:
Sunak’s comments come after Bank of England governor Andrew Bailey expressed concerns that pay increases were fuelling inflation.
The Bank of England is now under renewed pressure to raise interest rates next month after wages jumped more than expected in June, boosted by a one-off payment to NHS workers.
However, amid recent inflation and rising interest rates, trade unions have taken issue with the apparent blame attached by Bailey and others to wage demands by low and middle earners.
The Trades Union Congress (TUC) general secretary, Paul Nowak, said on Tuesday: “Real wages are still worth less today than in 2008 after the longest pay squeeze in 200 years.
An analysis in June by the TUC also found that pay rises for the top 10% of UK earners, including City bosses, had clearly outstripped the rest of the workforce and had been a prime driver of recent inflation and interest rates.
Sunak trumpeted the public sector pay offers that the government had extended to NHS workers, teachers and others and called for an an end to industrial action by doctors.
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