The country’s Chancellor of the Exchequer, Rachel Reeves, said a new wave of strikes could begin in the UK if nurses and teachers’ wages are not raised above inflation. Her words are a guide Bloomberg.
The independent pay watchdog, which represents more than 1.8 million teachers and NHS workers, has recommended a 5.5% pay rise, while the government has budgeted for just a 3% rise.
“We need to break out of this deadly cycle of low growth, high taxes and deteriorating public services. We need to grow the economy,” Reeves said.
If the 5.5% increase applied to the whole public sector, the government would need to find an extra £10 billion in the budget.
Previously, OECD analysts guessThe UK is predicted to be the weakest G7 economy by 2025.
Previously reportedThe Russian economy has passed the peak of overheating.