{"id":26774,"date":"2023-11-16T21:59:11","date_gmt":"2023-11-16T21:59:11","guid":{"rendered":"https:\/\/belalcazar.org\/?p=26774"},"modified":"2023-11-16T21:59:11","modified_gmt":"2023-11-16T21:59:11","slug":"190k-a-year-plank-of-england-chief-complains-about-ordinary-peoples-pay-rises","status":"publish","type":"post","link":"https:\/\/belalcazar.org\/world-news\/190k-a-year-plank-of-england-chief-complains-about-ordinary-peoples-pay-rises\/","title":{"rendered":"\u00a3190k-a-year Plank of England chief complains about ordinary peoples pay rises"},"content":{"rendered":"<p>A Bank of England chief has sparked outrage by suggesting pay rises for struggling folk in the cost-of-living crisis are too high.<\/p>\n<p>Top economist Huw Pill, who earns \u00a3190,000 a year, reckons recent pay rises across Britain could risk fuelling inflation. He spoke out after official figures showed civil service bonuses helped to push pay growth to a two-year record.<\/p>\n<p>The Oxford grad, right, said growth of 7.7% in average salaries was \u201cnot consistent\u201d with the Bank\u2019s target of 2% inflation. Mr Pill\u2019s comments come after Bank of England bosses got called hypocrites in July after giving staff \u00a325million in bonuses while urging pay restraint.<\/p>\n<p><b>READ MORE: Putin&apos;s sex-mad gymnast lover under &apos;house arrest&apos; as &apos;uncrowned queen&apos; has no power<\/b><\/p>\n<p><b>For more news, click here.<\/b><\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i2-prod.dailystar.co.uk\/incoming\/article31459535.ece\/ALTERNATES\/s615b\/0_Bank-of-England-headquarters-City-of-London.jpg\"><\/p>\n<p>He added: \u201cBut actually over the summer pay growth has remained very strong and we certainly wouldn&apos;t see pay growth of that rate as consistent with achieving the 2% inflation target on an ongoing basis. If you ask me where I think the sort of risk to the risks is, it&apos;s probably still on the fact that we may be seeing more momentum and more persistence than really is ideal to get us back to the 2% inflation target.\u201d<\/p>\n<p>Mark Serwotka, leader of civil service union PCS, claimed the Bank\u2019s continued call for wage suppression is a key reason behind the \u201ccatastrophic collapse\u201d in living standards. He said: \u201cImproving wages is vital to combat the crisis people are suffering. Improved pay in the public sector would have a knock-on effect of creating growth in the economy that this country so desperately needs.\u201d<\/p>\n<p><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i2-prod.dailystar.co.uk\/incoming\/article31459537.ece\/ALTERNATES\/s615b\/0_2023-European-Central-Bank-Forum-on-Central-Banking.jpg\"><\/p>\n<ul>\n<li>\n<figure data-mod=\"image\"><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/i2-prod.dailystar.co.uk\/incoming\/article31453319.ece\/ALTERNATES\/s458\/0_MAINSOCIAL.jpg\"><\/figure>\n<p> DWP cost of living payments worth \u00a3299 will be sent to millions of Brits<img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/s2-prod.mirror.co.uk\/@trinitymirrordigital\/chameleon-branding\/publications\/dailystar\/img\/logo-schema-dailystar.png\"><\/li>\n<\/ul>\n<p>Luke Hildyard, of the High Pay Centre, called the Bank \u201calmost detached from reality\u201d. He said: \u201cWhen super rich bankers and CEOs rake in obscene pay awards, it isn\u2019t helpful to blame inflation on ordinary people wanting their income to keep up with the cost of living.\u201d<\/p>\n<p>The Bank of England has been contacted for comment.<\/p>\n<p><b><i>For the latest breaking news and stories from across the globe from the Daily Star, sign up for our newsletter by clicking <\/i><i>here.<\/i><\/b><\/p>\n<p>Source: <a href=\"https:\/\/www.dailystar.co.uk\/news\/latest-news\/190k-year-plank-england-chief-31459516\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Bank of England chief has sparked outrage by suggesting pay rises for struggling folk in the cost-of-living crisis are too high. Top economist Huw Pill, who earns \u00a3190,000 a year, reckons recent pay rises across Britain could risk fuelling inflation. He spoke out after official figures showed civil service bonuses helped to push pay [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>\u00a3190k-a-year Plank of England chief complains about ordinary peoples pay rises - belalcazar.org<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/belalcazar.org\/world-news\/190k-a-year-plank-of-england-chief-complains-about-ordinary-peoples-pay-rises\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"\u00a3190k-a-year Plank of England chief complains about ordinary peoples pay rises - belalcazar.org\" \/>\n<meta property=\"og:description\" content=\"A Bank of England chief has sparked outrage by suggesting pay rises for struggling folk in the cost-of-living crisis are too high. 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