PetersonBrown Group - Strike action looms over the Bank of England

Strike action looms over the Bank of England

Kane Davis Cooper  ̶  After taking a vote, workers at the historic Bank of England have massively come down in favour of walking out on a four-day strike starting at the end of this month over pay concerns.

 

For the second consecutive year, the B.O.E. has offered maintenance and security staff annual rises less than the prevailing rate of inflation and led by the workers union, Unite, enough is enough and the bank is set to deal with the first strike by its staff in half a century.

 

“The result of the bank’s unwillingness to negotiate fair pay will be that the bank’s sites, including the iconic Threadneedle Street in the City of London, will effectively be inoperable without the maintenance, parlours and security staff,” said Unite.

 

Parlour staff work in the bank’s iconic back rooms, which are now used as offices for the bank’s most high-ranking officers. They prepare food and drinks and welcome guests to the bank.

The Bank of England said it had backup policies ready and “Should the strike go ahead; the bank has plans in place so that all sites can continue to operate effectively. We will continue to have discussions with Unite and hope that there will be a positive outcome”

The Bank of England’s monetary policy committee has a meeting planned for the 3rd of August to decide on what if any action needs to be taken on interest rates. This coincides with the final day of planned strike action.

Inflation in the UK is just under the 3% mark and the Bank of England workers are believed to have been offered just 1% rises.

The Governor, Canadian Mark Carney has been in his role for four years and is one of the highest paid central bankers in the world earning a salary of almost £900,000 by comparison.