Bank of England governor Andrew Bailey has been accused of “hypocrisy” after his suggestion that workers should not seek big pay rises attracted sharp rebukes from Downing Street, business groups and unions.
In a BBC interview the day after the central bank increased interest rates, Bailey said workers should avoid asking for large pay rises — even as households face the biggest squeeze on their income in decades — in order to help keep inflation under control
“In the sense of saying, we do need to see a moderation of wage rises, now that’s painful,” he said. “But we need to see that in order to get through this problem more quickly.”
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