Bank of England workers to strike over below-inflation pay rises, says Unite union

The first walkout at the Bank in more than 50 years comes after a 'total refusal to accept that the workforce is struggling to meet the costs of living', Unite says

Inflation hit 2.9 per cent last month, while the Bank of England offered a 1 per cent increase to the total pay pot of workers, Unite claims (PA)

Bank of England workers will be holding a four-day strike in a dispute over pay, the Unite union has announced. It is the first time that staff at the Bank have walked out in more than fifty years.

Up to one-third of security and maintenance workers will be offered no pay increase at all this year, while the rest face below-inflation rises for the second year running, according to Unite.

Inflation hit 2.9 per cent last month, while the Bank of England offered a 1 per cent increase to the total pay pot of workers, the union said. Managers have discretion over how this is distributed.

The union said 95 per cent of members who voted were in support of the industrial action, which will begin on 31 July.

Unite regional officer Mercedes Sanchez said: “Staff at the Bank of England have made their anger clear by voting for strike action due to their employer’s outright refusal to negotiate a fair pay deal for its workforce.

“The Bank of England now faces its first strike action in over 50 years when staff in vital services across the country will be taking action because of the Bank’s total refusal to accept that their workforce are struggling to meet their costs of living.

“The result of the bank’s unwillingness to negotiate fair pay will be that the bank’s sites, including the iconic Threadneedle Street in the City of London will effectively be inoperable without the maintenance, parlours and security staff.”

Unite said it was prepared to “escalate” the dispute if the Bank did not resolve the pay issue.

A Bank of England spokesperson said: “The Bank has been informed of industrial action being called by Unite the union.

“The union balloted approximately 2 per cent of the workforce.

“Should the strike go ahead, the Bank has plans in place so that all sites can continue to operate effectively.

“We will continue to have discussions with Unite and hope that there will be a positive outcome.”