The independent pay review bodies are reportedly set to recommend pay increases of around 3pc for NHS staff and 4pc for teachers. However, the Government has only budgeted for a 2.8pc increase for public sector workers. This is broadly in line with expected price rises over the coming year, but still higher than the Bank … Continue reading The Government should hold the line on public sector pay
Tag: public sector pay
Bank of England rate cut should be the first of many
The Bank of England’s decision to cut UK interest rates to 5% this week was finely balanced but surely correct. The aim now should be to return rates to a 'neutral' level of around 4% early next year. The obvious starting point is that CPI inflation has now been at or very close to the … Continue reading Bank of England rate cut should be the first of many
“Lies, damned lies, and statistics on NHS pay”
To be frank, I don’t have a strong view on what nurses should be paid, though I probably wouldn't begrudge them a bigger increase than 1%. Instead, this blog seeks to draw attention to some of the pitfalls in how others are presenting their case. For a start, it seems odd to make up your … Continue reading “Lies, damned lies, and statistics on NHS pay”
Sunak breaks the fundamental rule: ‘first, do no harm’
I’m only just coming to terms with how cross I am about the Chancellor’s speech today. This should have been a relatively uneventful one-year Spending Review, setting departmental limits for 2021-22, and summarising the latest economic and fiscal forecasts from the OBR. But, in my opinion, Rishi Sunak made two big mistakes. First, he got … Continue reading Sunak breaks the fundamental rule: ‘first, do no harm’
Plain-speaking Economics 