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Daily Mirror
31-07-2025
- Health
- Daily Mirror
BREAKING: Nurses reject NHS pay deal - and could join resident doctors on picket line
Nurses have voted to reject their NHS pay deal in a move that could lead to more strike action. The Royal College of Nursing confirmed 91% of its members who voted rejected the 3.6% pay rise they have been granted for 2025/26. Nurses are furious that for the second year running they have been given less than resident doctors, who have been awarded 5.4% but still went on strike recently. President Professor Nicola Ranger previously labelled it 'grotesque' that nurses were again being awarded less than doctors. Professor Ranger said: 'My profession feels deeply undervalued and that is why record numbers are telling the government to wake up, sense the urgency here and do what's right by them and by patients. "Record numbers have delivered this verdict on a broken system that holds back nursing pay and careers and hampers the NHS.' The vote to reject the pay offer included nurses in England, Wales and Northern Ireland on a 56% turnout. The legal minimum in any follow-up vote over whether to strike is 50%. The RCN said 170,000 nurses voted in its ballot in England, its highest ever, and is demanding ministers use the summer to reach a deal. Without an improved deal it will escalate to a dispute and an industrial action ballot which could see nurses strike in Autumn. It comes shortly after a five-day strike by resident doctors which is expected to have caused thousands of cancelled appointments. Details on the number of appointments, procedures and operations postponed are expected to be published later today(THUR). NHS leaders fear that Mr Streeting could face a full-scale NHS rebellion after other health unions also rejected their pay deals. The Unite union, which has members in almost all NHS professions, and GMB, which represents staff including ambulance workers, have both rejected the 3.6% pay deal in recent weeks. Most NHS staff on the main Agenda for Change contract - which excludes doctors and dentists - have been awarded a 3.6% increase for 2025/26. This uplift was recommended by the NHS Pay Review Body (NHSPRB) based on evidence submitted by the government, employers and unions. However unions have questioned the impartiality of the pay review body. The current annual inflation rate for the Retail Price Index (RPI) in the UK is 4.4%. The latest UK Consumer Price Index (CPI) inflation rate - which excludes mortgage costs - is 3.6%. The RCN is understood to be open to talks on wider pay structures and quicker career progression, not just headline pay. The union says the pay banding in the Agenda for Change system unfairly traps nurses in lower bands, in some cases for their whole careers. Prof Ranger added: 'As a safety-critical profession, keeping hold of experienced nursing staff is fundamentally a safety issue and key to the government's own vision for the NHS. Long-overdue reforms to nursing career progression and the NHS pay structure aren't just about fairness and equity but are critical for patient safety. 'We deliver the vast majority of care in every service and deserve to be valued for all our skill, knowledge and experience. To avoid formal escalation, the government must be true to its word and negotiate on reforms of the outdated pay structure which traps nursing staff at the same band their entire career.' Mr Streeting is expected to restart talks with the British Medical Association early next week to avert further strikes by resident doctors. Their unanimous vote to strike - on a 55% turnout - means the BMA's resident doctors committee has a legal mandate to organise strikes until January 2025. The Government is adamant it cannot increase headline pay but could find other solutions such as reduced doctor training costs and improved working conditions. Doctors are demanding a commitment to return to 2008 levels of pay, saying they will accept this over a number of years. The BMA argues that by the RPI Measure of inflation resident doctors' real terms salaries are down a fifth since then. Kemi Badenoch has pledged to outlaw strikes by doctors, bringing them into line with the police and army, if she becomes prime minister.
South Wales Guardian
19-06-2025
- Business
- South Wales Guardian
UK interest rates kept on hold with Bank alert to ‘highly unpredictable' world
The Bank's Monetary Policy Committee (MPC) decided to keep rates unchanged at 4.25%. In a split vote, with six members opting to hold and three preferring to cut, the MPC said a 'gradual and careful approach' to reducing borrowing costs continued to be the right course of action. Bank governor Andrew Bailey said: 'Interest rates remain on a gradual downward path, although we've left them on hold today. 'The world is highly unpredictable.' He added that there were 'signs of softening in the labour market' – referring to indicators including slower hiring and wage growth easing – which were being closely watched to see how far they feed into UK inflation. The committee said it was alert to concerns about conflict in the Middle East, which has escalated in recent days with attacks between Israel and Iran. In the minutes of the MPC's meeting, it noted that there had been 'rapid geopolitical developments', adding: 'Energy prices had risen owing to an escalation of the conflict in the Middle East. 'The committee would remain vigilant about these developments and their potential impact on the UK economy.' It echoes similar remarks made by the US's central bank which also opted to keep interest rates on hold on Wednesday. Global oil and natural gas prices have surged in recent weeks, which threatens to push up energy costs in the UK. Furthermore, the MPC noted that Donald Trump's tariff policy was posing risks to global trade and continuing to create uncertainty. But it said that deals struck between the US and other countries, including the UK, meant that the direct impact of the 'trade shock' on global growth could be smaller than it had forecast last month. Meanwhile, the decision to keep rates on hold came as UK Consumer Price Index (CPI) inflation remained above the Bank's 2% target level, coming in at 3.4% last month. The jobs market was also starting to cool, with the rate of unemployment ticking up and pay growth starting to ease. The Bank said its network of agents had found that cost pressures from the beginning of April – including national insurance contributions rising – had put pressure on firms to recover them by raising prices. As well as price hikes, it noted that businesses had been leaning on other actions to mitigate costs, including reducing their workforce, staff hours, salaries, and absorbing into profits. The Monetary Policy Committee voted by a majority of 6-3 to keep interest rates at 4.25% Find out more: — Bank of England (@bankofengland) June 19, 2025 It also pointed to waning business sentiment amid weak growth in the UK economy, with demand not expected to recover until 2026. Signs of a weakening jobs market and economic growth indicates that a rate cut could be on the table when the committee next meets in August. Matt Swannell, chief economic adviser to the EY Item Club, said three MPC members voting for a cut was 'probably a sign that the MPC has become slightly more concerned about the labour market than it was in May'. 'This only raises the bar for the MPC to break from its cut-hold tempo at its August meeting and opens the door slightly to rate cuts potentially speeding up in the latter half of this year,' he said. Other experts pointed out that the Bank was having to weigh up a cooling labour market with growing pressures on inflation stemming from global developments. James Smith, developed market economist for ING, said some policymakers had a 'beady eye' on oil prices and were 'wary of a repeat of 2022, where a rise in energy prices turned into a much wider and more persistent services-driven inflation episode'. He is nonetheless forecasting a reduction in rates in August and again in November. Rachel Reeves said the Government respected the Bank's decision as she spoke at The Times CEO Summit. Speaking in central London, the Chancellor said: 'We respect independent economic institutions, and the Bank has got an incredibly important but difficult job to do. 'We want them to set the monetary policy that is appropriate for meeting the inflation target, because we also saw in the last parliament a double-digit inflation which was so challenging for businesses, but also family finances, which also has a knock on impact on business.' Ms Reeves, a former economist at the Bank, insisted the four interest rates cuts made under Labour were 'a world away from the previous parliament, when interest rates went up so sharply because of the poor economic mismanagement of prime ministers and chancellors'.
North Wales Chronicle
19-06-2025
- Business
- North Wales Chronicle
UK interest rates kept on hold with Bank alert to ‘highly unpredictable' world
The Bank's Monetary Policy Committee (MPC) decided to keep rates unchanged at 4.25%. In a split vote, with six members opting to hold and three preferring to cut, the MPC said a 'gradual and careful approach' to reducing borrowing costs continued to be the right course of action. Bank governor Andrew Bailey said: 'Interest rates remain on a gradual downward path, although we've left them on hold today. 'The world is highly unpredictable.' He added that there were 'signs of softening in the labour market' – referring to indicators including slower hiring and wage growth easing – which were being closely watched to see how far they feed into UK inflation. The committee said it was alert to concerns about conflict in the Middle East, which has escalated in recent days with attacks between Israel and Iran. In the minutes of the MPC's meeting, it noted that there had been 'rapid geopolitical developments', adding: 'Energy prices had risen owing to an escalation of the conflict in the Middle East. 'The committee would remain vigilant about these developments and their potential impact on the UK economy.' It echoes similar remarks made by the US's central bank which also opted to keep interest rates on hold on Wednesday. Global oil and natural gas prices have surged in recent weeks, which threatens to push up energy costs in the UK. Furthermore, the MPC noted that Donald Trump's tariff policy was posing risks to global trade and continuing to create uncertainty. But it said that deals struck between the US and other countries, including the UK, meant that the direct impact of the 'trade shock' on global growth could be smaller than it had forecast last month. Meanwhile, the decision to keep rates on hold came as UK Consumer Price Index (CPI) inflation remained above the Bank's 2% target level, coming in at 3.4% last month. The jobs market was also starting to cool, with the rate of unemployment ticking up and pay growth starting to ease. The Bank said its network of agents had found that cost pressures from the beginning of April – including national insurance contributions rising – had put pressure on firms to recover them by raising prices. As well as price hikes, it noted that businesses had been leaning on other actions to mitigate costs, including reducing their workforce, staff hours, salaries, and absorbing into profits. The Monetary Policy Committee voted by a majority of 6-3 to keep interest rates at 4.25% Find out more: — Bank of England (@bankofengland) June 19, 2025 It also pointed to waning business sentiment amid weak growth in the UK economy, with demand not expected to recover until 2026. Signs of a weakening jobs market and economic growth indicates that a rate cut could be on the table when the committee next meets in August. Matt Swannell, chief economic adviser to the EY Item Club, said three MPC members voting for a cut was 'probably a sign that the MPC has become slightly more concerned about the labour market than it was in May'. 'This only raises the bar for the MPC to break from its cut-hold tempo at its August meeting and opens the door slightly to rate cuts potentially speeding up in the latter half of this year,' he said. Other experts pointed out that the Bank was having to weigh up a cooling labour market with growing pressures on inflation stemming from global developments. James Smith, developed market economist for ING, said some policymakers had a 'beady eye' on oil prices and were 'wary of a repeat of 2022, where a rise in energy prices turned into a much wider and more persistent services-driven inflation episode'. He is nonetheless forecasting a reduction in rates in August and again in November. Rachel Reeves said the Government respected the Bank's decision as she spoke at The Times CEO Summit. Speaking in central London, the Chancellor said: 'We respect independent economic institutions, and the Bank has got an incredibly important but difficult job to do. 'We want them to set the monetary policy that is appropriate for meeting the inflation target, because we also saw in the last parliament a double-digit inflation which was so challenging for businesses, but also family finances, which also has a knock on impact on business.' Ms Reeves, a former economist at the Bank, insisted the four interest rates cuts made under Labour were 'a world away from the previous parliament, when interest rates went up so sharply because of the poor economic mismanagement of prime ministers and chancellors'.
Leader Live
19-06-2025
- Business
- Leader Live
UK interest rates kept on hold with Bank alert to ‘highly unpredictable' world
The Bank's Monetary Policy Committee (MPC) decided to keep rates unchanged at 4.25%. In a split vote, with six members opting to hold and three preferring to cut, the MPC said a 'gradual and careful approach' to reducing borrowing costs continued to be the right course of action. Bank governor Andrew Bailey said: 'Interest rates remain on a gradual downward path, although we've left them on hold today. 'The world is highly unpredictable.' He added that there were 'signs of softening in the labour market' – referring to indicators including slower hiring and wage growth easing – which were being closely watched to see how far they feed into UK inflation. The committee said it was alert to concerns about conflict in the Middle East, which has escalated in recent days with attacks between Israel and Iran. In the minutes of the MPC's meeting, it noted that there had been 'rapid geopolitical developments', adding: 'Energy prices had risen owing to an escalation of the conflict in the Middle East. 'The committee would remain vigilant about these developments and their potential impact on the UK economy.' It echoes similar remarks made by the US's central bank which also opted to keep interest rates on hold on Wednesday. Global oil and natural gas prices have surged in recent weeks, which threatens to push up energy costs in the UK. Furthermore, the MPC noted that Donald Trump's tariff policy was posing risks to global trade and continuing to create uncertainty. But it said that deals struck between the US and other countries, including the UK, meant that the direct impact of the 'trade shock' on global growth could be smaller than it had forecast last month. Meanwhile, the decision to keep rates on hold came as UK Consumer Price Index (CPI) inflation remained above the Bank's 2% target level, coming in at 3.4% last month. The jobs market was also starting to cool, with the rate of unemployment ticking up and pay growth starting to ease. The Bank said its network of agents had found that cost pressures from the beginning of April – including national insurance contributions rising – had put pressure on firms to recover them by raising prices. As well as price hikes, it noted that businesses had been leaning on other actions to mitigate costs, including reducing their workforce, staff hours, salaries, and absorbing into profits. The Monetary Policy Committee voted by a majority of 6-3 to keep interest rates at 4.25% Find out more: — Bank of England (@bankofengland) June 19, 2025 It also pointed to waning business sentiment amid weak growth in the UK economy, with demand not expected to recover until 2026. Rachel Reeves said the Government respected the Bank's decision as she spoke at The Times CEO Summit. Speaking in central London, the Chancellor said: 'We respect independent economic institutions, and the Bank has got an incredibly important but difficult job to do. 'We want them to set the monetary policy that is appropriate for meeting the inflation target, because we also saw in the last parliament a double-digit inflation which was so challenging for businesses, but also family finances, which also has a knock on impact on business.' Ms Reeves, a former economist at the Bank, insisted the four interest rates cuts made under Labour were 'a world away from the previous parliament, when interest rates went up so sharply because of the poor economic mismanagement of prime ministers and chancellors'.
Powys County Times
19-06-2025
- Business
- Powys County Times
UK interest rates kept on hold with Bank alert to ‘highly unpredictable' world
UK interest rates have been left on hold as the Bank of England said it was keeping watch on a 'highly unpredictable' world amid rising energy prices. The Bank's Monetary Policy Committee (MPC) decided to keep rates unchanged at 4.25%. In a split vote, with six members opting to hold and three preferring to cut, the MPC said a 'gradual and careful approach' to reducing borrowing costs continued to be the right course of action. Bank governor Andrew Bailey said: 'Interest rates remain on a gradual downward path, although we've left them on hold today. 'The world is highly unpredictable.' He added that there were 'signs of softening in the labour market' – referring to indicators including slower hiring and wage growth easing – which were being closely watched to see how far they feed into UK inflation. The committee said it was alert to concerns about conflict in the Middle East, which has escalated in recent days with attacks between Israel and Iran. In the minutes of the MPC's meeting, it noted that there had been 'rapid geopolitical developments', adding: 'Energy prices had risen owing to an escalation of the conflict in the Middle East. 'The committee would remain vigilant about these developments and their potential impact on the UK economy.' It echoes similar remarks made by the US's central bank which also opted to keep interest rates on hold on Wednesday. Global oil and natural gas prices have surged in recent weeks, which threatens to push up energy costs in the UK. Furthermore, the MPC noted that Donald Trump's tariff policy was posing risks to global trade and continuing to create uncertainty. But it said that deals struck between the US and other countries, including the UK, meant that the direct impact of the 'trade shock' on global growth could be smaller than it had forecast last month. Meanwhile, the decision to keep rates on hold came as UK Consumer Price Index (CPI) inflation remained above the Bank's 2% target level, coming in at 3.4% last month. The jobs market was also starting to cool, with the rate of unemployment ticking up and pay growth starting to ease. The Bank said its network of agents had found that cost pressures from the beginning of April – including national insurance contributions rising – had put pressure on firms to recover them by raising prices. As well as price hikes, it noted that businesses had been leaning on other actions to mitigate costs, including reducing their workforce, staff hours, salaries, and absorbing into profits. The Monetary Policy Committee voted by a majority of 6-3 to keep interest rates at 4.25% Find out more: — Bank of England (@bankofengland) June 19, 2025 It also pointed to waning business sentiment amid weak growth in the UK economy, with demand not expected to recover until 2026. Rachel Reeves said the Government respected the Bank's decision as she spoke at The Times CEO Summit. Speaking in central London, the Chancellor said: 'We respect independent economic institutions, and the Bank has got an incredibly important but difficult job to do. 'We want them to set the monetary policy that is appropriate for meeting the inflation target, because we also saw in the last parliament a double-digit inflation which was so challenging for businesses, but also family finances, which also has a knock on impact on business.' Ms Reeves, a former economist at the Bank, insisted the four interest rates cuts made under Labour were 'a world away from the previous parliament, when interest rates went up so sharply because of the poor economic mismanagement of prime ministers and chancellors'.
