GOVERNOR: ‘I WON’T TAKE A PAY RISE’

ANDREW Bailey ( pictured) said he will not take a pay rise this year.

The Bank of England Governor, who was paid almost £600,000 last year, told the Treasury Committee: ‘It’s not for me to decide but if I was offered one I would not accept it. I would politely decline as I have done before.’

Bailey was criticised in February for urging workers not to ask for big pay increases as the Bank stepped up its efforts to tackle runaway inflation.

Rishi Sunak waded into the pay row this week as he called on bosses to rein in bonuses.

Bailey said the Bank has not decided on pay rises for employees but indicated it would direct support towards lower-paid staff. ‘I think that is the fair way to do it in the context of the situation we find ourselves in,’ he said.