Okay, Andrew Bailey didn’t quite say that, but I think that is the essence of what he said.
In a nutshell, he’s gone on record warning about inflation; energy prices, food prices etc. And he’s also said again that workers shouldn’t request pay increases to help dampen the inflation increases. By this, he means you need to suck it up and suffer in silence.
I guess this is another one of those “We’re all in it together” moments. Except we’re not. We’ve already seen that.
MP’s received a 2.7% pay increase last month, this is approximately £2,200 per year and was done after the first time that the Bank of England asked workers to not request sizeable pay increases.
2.7% of the average wage as at February 2022 is £780. Quite a difference. So, Joe Average would get £1,420 less than an MP with the same percentage increase.
Oh, and Mr Bailey earns £570,000.