Finance

The Finance Roundup

One percent pay cap to be lifted on public sector workers.

After mounting pressure to increase pay rises in the public sector, the government has decided to remove the one percent pay cap that has been imposed since 2013. Police officers will get a 1.7 percent rise and a one percent bonus, whilst prison officers will get a one point seven percent rise. However, with pay rises coming out of existing budgets and failing to fall in line with inflation, unions have reacted negatively.

Unemployment falls but concerns remain over stagnant wages. 

Reports from the Office of National Statistics, 75,000 more people are in jobs since the first quarter of this year. Despite unemployment falling to four point three percent in the second quarter of the year, low wages and high inflation rates mean that in real terms wages have decreased by zero point four percent from last year.

Pound rises again in anticipation of interest rate increase.

Suggestions that the Bank of England may raise interest rates for the first time in a decade have put the pound back up to its highest level against the dollar since the day after the Brexit vote.

Women more likely to be paid less than the minimum wage.

The Low Pay Commission says two thirds of underpaid workers are women, and also they are least likely to complain about it. In the past, the Trades Union Congress suggested that 250,000 workers are not paid the full National Minimum Wage.

New £10 note features Jane Austen.

The £10 note is the latest addition to the plastic notes which will replace paper notes as legal tender. The English author is currently the only female to feature on English currency other than the Queen. The paper £10 note will be withdrawn from circulation in Spring 2018.

23/09/2017

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    Favourite song covers
    Is this author 14 years old with absolutely zero knowledge on music? Has to be. Two out of three songs are irrelevant. Both by shitty bands. Who paid for this?…
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