The era of below-inflation wage increases will continue “for the foreseeable future” as companies strive to remain competitive in the low-growth economic climate, the CBI employers’ group has warned.
John Cridland, director-general, said: “We have to accept this as the new normal – we will only be able to afford to pay ourselves more in the long term by improving productivity and competing more effectively around the world.”
SOYMB wonders why "oursleves" does not included directors. Bob Diamond with his £17 million from Barclays was not held to 3% or a pay freeze. Staff at the bank got next to nothing this year, well below 3% so who is sharing in the bank's so called success.
John Cridland, director-general, said: “We have to accept this as the new normal – we will only be able to afford to pay ourselves more in the long term by improving productivity and competing more effectively around the world.”
SOYMB wonders why "oursleves" does not included directors. Bob Diamond with his £17 million from Barclays was not held to 3% or a pay freeze. Staff at the bank got next to nothing this year, well below 3% so who is sharing in the bank's so called success.
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