To understand the UK’s low-pay crisis, Mark Carney needs to get out more | Phillip Inman

The Bank of England enforced a 1% rise on striking staff yet its fantasy forecasts claim a 3% rise for the UK as a whole is just around the corner. Really? How?

Bank of England governor Mark Carney needs to look no further than the pay of his own staff to figure out why – when he believes we’re on the verge of a pay boom – most people’s wage rises are stuck in first gear.

The Bank swatted aside a dispute last week with low-paid staff that had become so toxic inside Threadneedle Street that even the pink-jacketed, top-hatted front-of-house greeters had joined their colleagues in the maintenance section and other blue-collar roles by downing tools.

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Read the original at Economics | The Guardian.