Economist warns £10bn cost from 5.5% public sector pay rises, mainly in education and NHS.

Economist warns public sector pay rises could cost up to £10bn. Independent pay review bodies are set to recommend 5.5% pay rises for teachers and around 1.3 million NHS staff, well above the 3% the government budgeted for. The extra costs could lead to increased taxation, spending cuts, or borrowing, with economists estimating £3.5bn would be needed to fund teachers and nurses alone.

July 19, 2024
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