Andrew Clark in todays Times looks back at Brendan Barber’s speech to the Institute of Directors three years ago, when he was leader of the Trades Union Congress, in which he urged company bosses to increase pay for workers in order to help deliver a sustainable economic recovery in Britain. Clark says the argument fell on deaf ears, but Mr Barber appears to have been vindicated after Bank of England Governor Mark Carney yesterday sounded the alarm about slow wage growth, with the Bank halving its forecast for growth this year from 2.5% to 1.25%. Clark argues that the current economic recovery can not continue at its current pace unless people have more money to spend, and employers need to recognise this.
Posted on: Thu, 14 Aug 2014 08:26:59 +0000
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