TUC rejects new call from Andrew Bailey’s for pay restraint

Responding to the Governor of the Bank of England Andrew Bailey’s renewed call for pay restraint today (Monday) TUC Deputy General Secretary Paul Nowak said:

“It is unbelievable that the Bank of England has repeated its calls for workers to take a wage hit – while saying virtually nothing about soaring profits at the likes of BP and Shell.

“The last thing working people need right now – in the middle of the worst living standards crisis in generations – is to have their wages held down.

“Let’s be crystal clear. Global energy prices are driving up inflation – not pay claims.

“Suppressing pay will suck demand out of our economy and cause widespread hardship.”