Good morning. Inflation is at its highest stage for 40 years and Britain’s return to the financial panorama of the Seventies/Nineteen Eighties will take a step ahead this week with the largest nationwide railstrike for a technology. In a number of different key public providers, unions are additionally threatening strike motion this summer time. This is from my colleague Gwyn Topham on the rail strikes.
The points are barely totally different for various sectors, however on the coronary heart of this week’s rail strike, and all the opposite potential walk-outs which will come later, is pay. With inflation heading in direction of 11%, real-terms pay is falling.
Simon Clarke, chief secretary to the Treasury, has been giving interviews this morning and he delivered what will be the bluntest message but from a authorities minister that employees can’t anticipate pay rises that may match inflation.
Stressing that this was a message for individuals within the personal sector in addition to in public sector, Clarke informed the Today programme:
In the present panorama of inflation at 9, bordering 10%, it’s not a sustainable expectation that inflation will be matched in pay presents. That isn’t one thing that’s going to be seen – throughout, frankly, the personal sector in addition to the general public sector.
We can not get right into a world the place we’re chasing inflation expectations in that approach as a result of that’s the surest approach I can consider to bake within the repeat of the Seventies which this authorities is set to stop.
I’ll submit extra from Clarke’s interviews, and the strike-related objects on the morning programmes, shortly.
Here is the agenda for the day.
11.30am: Downing Street holds a foyer briefing.
2.30pm: Priti Patel, the house secretary, takes questions within the Commons.
3pm: Alistair Jack, the Scottish secretary, provides proof to the Commons Scottish affairs committee.
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