Citywire printed articles sponsored by:
View the article online at http://citywire.co.uk/new-model-adviser/article/a408860
Public sector pay frozen by Budget for two years
by William Robins on Jun 22, 2010 at 13:09
Chancellor George Osborne has announced a two-year pay freeze for public sector workers, one more year than previously announced.
Public sector executive pay will be limited to no more than 20 times that of the lowest earners. When the pay freeze is lifted pay rises will be flat across all salaries meaning the rise will be proportionality greater for the lowest.
Public sector workers earning less than £21,000 will however receive a £250 pay rise in each of the two years when pay is freezed.
Markets
Other markets
News sponsored by:
4 comments so far. Why not have your say?
steve bostock
Jun 22, 2010 at 13:44
I assume they will soon be looking at the gold plated public sector pensions which surely need to be modified downwards in line with the real world
report thisNeilG
Jun 22, 2010 at 14:14
Yes. I think they said preliminary report due in September. About time the public sector got treated in line with the rest of us!
Given the circumstances I think it has been an excellent budget (and I'm a Labour vorter :D)
report thisAnonymous 1 needed this 'off the record'
Jun 22, 2010 at 16:37
Does that mean their will now be a two years pay freeze at the FSA,or will it be business as usual
report thisAnonymous 2 needed this 'off the record'
Jun 22, 2010 at 17:55
In answer to Anon 1 - Two year pay freeze but that does not apply to bonuses which will be of course ' business as usual'
report thisleave a comment
Please sign in here or register here to comment. It is free to register and only takes a minute or two.