Bank of England workers are considering whether to stage further strike action over their below-inflation wage growth.
It is understood that the Bank has put forward a set of proposals which are being considered by members of the union Unite. If they are not deemed satisfactory, this could spell further staff walkouts on Threadneedle Street.
Workers in the security, maintenance and hospitality functions at the Bank protested pay levels at the start of this month, supported by shadow chancellor John McDonnell. It marked the first strike action at the bank for several decades, and the first since it became independent 20 years ago.
The Bank of England currently abides by the Treasury’s public sector pay cap of one per cent per year, although it technically has the ability to raise pay for its workers without government approval.
Workers say the cap is unfair as it means wages are not rising at the same rate as inflation.
It is understood that the Bank has not offered the augmented pay rise, but has offered to involve union representatives in the process of pay structuring.