8.2 C
New York
Tuesday, September 27, 2022
HomeWorldUKWe must not submit to the demands of the strikers for more...

We must not submit to the demands of the strikers for more pay, Ministry of Finance warns

Local authorities have already began to succumb union pressure, with give up workers in Sussex raises wages of 24-27 percent, those in Croydon gave 8.5% and one-off bonus of £750 and Rugby City Council pays 12 per cent of wages. rise workers.

Bank of Britain’s chief economist warned on Friday that he might be forced to raise interest rates on half percentage point for in first time since independence in 1997 if there are signs of inflation taking root.

Hugh Pill told Bloomberg TV: “If we see more evidence that current high level of inflation becomes embedded in pricing behavior of firms in wage fixing by firms and workers, then this will trigger for this is more aggressive action.”

Mr Johnson was called senior Tory supports ensure in public sector shows restraint on to pay.

Kevin Hollinrake, who sits on a special committee of the treasury called on Mr Johnson”step in provide a shortterm measures that more efficient and appropriate.”

“We will have to show restraint on pay because people who the poorest have suffered the most from inflation,” he said.

John Redwood former Cabinet minister told The Telegraph, said, “You should fight inflation and slow down recession at the same time way you’re doing it with tax cuts.

“I have always recommended that where you give money back to the people you do it by cutting taxes, like VAT on fuel, so you hit two targets at the same time.

“They are need watch again in how they may have limited intervention on tax burden.

.

Follow World Weekly News on

Adrian Ovalle
Adrian Ovalle
Adrian is working as the Editor at World Weekly News. He tries to provide our readers with the fastest news from all around the world before anywhere else.

Leave a Reply

Must Read