Tag: pay

‘Raise sick pay’ to lower virus health and economic risk

Image copyright Getty Images Statutory sick pay should be increased and the furlough scheme extended on a flexible basis, new research suggests. Doing so would better manage a “crude” trade-off between lives and livelihoods as the UK economy reopens. These are two of the recommendations in a new report from the Royal Society. It says economic and health data should… Read more →

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Bosses’ pandemic pay cuts ‘superficial’ says report

Image copyright Thinkstock The UK’s biggest listed companies have failed to address their bosses’ huge salaries during the coronavirus pandemic, a pay report claims. Despite some high-profile reports of executive pay cuts, these were mainly “superficial or short-term”, it says. Nor have firms addressed a culture of excessive bonuses,  says the report by the CIPD, the professional body for HR,… Read more →

Coronavirus: Taxes will rise to pay for virus, IFS think tank warns

Image copyright Getty Images Taxpayers face a day of reckoning when the government’s massive coronavirus support measures have to be paid off, experts warn. The Institute of Fiscal Studies think tank says the economy will remain in a “support and recovery” phase for some time, but higher taxes are inevitable. On Wednesday, the chancellor unveiled another £30bn of support, bringing… Read more →

British Airways: Long-serving cabin crew face 20% pay cut

Image copyright Getty Images British Airways has told its longest-serving cabin crew they face a 20% cut in basic pay or they will lose their jobs. The move is the airline’s latest offer in ongoing consultations with Heathrow-based staff. In an email sent last night, British Airways said the aviation industry would look “very different” after the coronavirus pandemic. Under… Read more →

Rishi Sunak wants firms to pay more, but also survive

Image copyright Getty Images Image caption Chancellor Rishi Sunak will start to remove the government furlough scheme The Chancellor is attempting a delicate balancing act. Slowly withdrawing very expensive government support programmes without crashing the economy. The government is currently paying 80% of the wages of nearly 8.5 million employees and 80% of 2.3 million self employed worker’s take home… Read more →

Could you have to pay your bank to save money?

Image copyright Getty Images Image caption High street banks in countries with negative interest rates have so far been reluctant to pass them on to customers Countries are being forced to use extreme measures to keep the economy afloat amid the coronavirus crisis. Now, the Bank of England has signalled that it may take the cost of borrowing below zero.… Read more →