New Bank of England strike threat in dispute over wages
BANK of England workers are considering staging another strike after their demands for a pay rise were not met following a walkout earlier this month.
The Unite union is consulting staff on how to react following talks at mediation service Acas at the end of July and in the second week of August.
Around one in 50 of the Bank’s workforce took industrial action over three days at the beginning of this month and protested outside its City headquarters. It was the first strike faced by the Bank in nearly 40 years.
Union members are expected to make a decision on how to proceed by early September. They are angry at the “shameful” 1pc pay rise being offered by the Bank.
That increase applies to the overall pay pot, but the precise distribution is left to the discretion of managers, meaning around one third of workers could end up with no raise at all – at a time when prices are up 2.6pc on the year. It is understood that the Bank has not offered the workers the inflationary pay rise they want, but instead has proposed giving the union more of a say in how pay is structured.
The Bank has not been subject to the same formal pay restraint as the wider public sector, but it has tried to behave the same way when it comes to setting wages. Governor Mark Carney earned £880,042 in 2016-17, effectively receiving no pay rise for the year.
A Unite spokesman confirmed that the union was consulting members. The Bank declined to comment.
On the march: Bank of England staff during their most recent strike, wearing masks of the Governor, Mark Carney