Bank of England faces strike

THE Bank of England is facing a strike because of weaker-than-inflation pay rises and has been described as “arrogant” by a union representing some staff.

Unite, Britain’s biggest labour union, said its members at the BOE, including workers in maintenance, reception and facilities departments, began to vote on Thursday on whether to hold industrial action.

Staff can earn as little as £20 000 (R330 000) a year, and insufficient pay increases meant they were “facing financial hardship”, said the union.

It called the latest pay settlement “derisory” and said the bank was “out of touch”. The BOE declined to comment. Unite regional official Mercedes Sanchez said: “It is a source of shame that an iconic symbol of financial services in the UK is choosing to ride roughshod over the concerns of its dedicated and hard-working staff.” — Bloomberg