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MPs to lose right to set own pay

MPs may lose the right to decide their own pay rises, as the government struggles to persuade MPs to accept an inflation-curbing pay award. The prime minister wants MPs to accept a 1.9 per cent pay rise, in line with other public sector workers. But the board which makes recommendations for MPs’ pay is likely… Read more »

Bank ‘hamstrung into interest rate hold’

The Bank of England would have cut interest rates today if it had a sufficiently broad remit, the Liberal Democrats economic spokesman has claimed. Instead the Bank’s monetary policy committee (MPC) voted to hold interest rates at 5.5 per cent, despite many pundits predicting a fall. After increasing the underlying cost of borrowing three times… Read more »