Archbishop of York urges UK businesses to adopt living wage to tackle income inequality November 10, 2014 It is time for UK businesses to start supporting the living wage, the Archbishop of York argued to Britain’s business leaders today. Archbishop John Sentamu delivered a stern and simple message to the Confederation of British Industry annual conference: “Work must pay.” The living wage, which is set at £9.15 per hour in [...]
Asda is discovering the perils of Britain’s incoherent employment regulations October 29, 2014 DESPITE a remarkable reduction in Employment Tribunal claims, the system continues to throw up major problems for employers, with potentially disastrous consequences for business. First, the government is worried about two recent claims concerning holiday pay. For many years, this entitlement has been calculated by reference to basic pay. But the claims, backed by trade [...]
UK business is booming – but are workers being forced into self-employment? October 29, 2014 The number of businesses in the UK grew by 4.4 per cent between March 2013 and March 2014 as the recovery gathered pace, according to the Office of National Statistics (ONS) figures published this morning. The total number of VAT and/or PAYE businesses rose by 96,000 during the period. The report also showed the continued [...]
Still lovin’ it? McDonald’s shows why a minimum wage hike is no free lunch October 27, 2014 McDonald's has been a major target for US protestors advocating a significant minimum wage hike. A multi-billion dollar company with a recognisable global brand, it has faced a high-profile campaign from those frustrated with low wage rates. Mandating higher wages for McDonald’s workers would not lead to job losses or cuts to hours, protestors argued. [...]
Tesco’s falling share price eats away at Dave Lewis and Alan Stewart’s bonuses October 27, 2014 Here's another reason for Dave Lewis to be concerned about Tesco's tumbling share price – it's already cost him around a quarter of the bonus accrued at his previous employer Unilever. Tesco bought out awards that both Lewis and new chief financial officer Alan Stewart forfeited from leaving their previous employment, which in the [...]
Important jobs, big bonuses and beating your colleagues: City workers are suffering from “status anxiety” but won’t talk about it October 17, 2014 People working in the City are suffering from increasing levels of anxiety because of a pressure to appear successful and mentally resilient, according to a psychiatrist at The London Psychiatry Centre. Dr Rafael Euba has treated people with work-related anxiety and depression from a wide range of professions, including many people who work in [...]
Bank of England fires back at Europe’s bid to stamp on bonuses October 16, 2014 Bankers need bonuses to create incentives to behave well, and the EU’s efforts to stamp them out are harming this goal, the Bank of England’s Andrew Bailey said last night. Stepping up the prudential regulation authority’s campaign against the bonus cap, Bailey argued that the cap was a “bad policy”. He told the City of [...]
Brussels claims British banks’ role-based allowances are in breach of EU bonus cap rules October 15, 2014 British banks face another nine months of rows with the European authorities and could end up in a fierce legal battle, after the European Banking Authority (EBA) yesterday claimed they were in breach of new EU rules on bonuses. The UK authorities back the banks’ role-based allowances, which are a new element of pay. [...]
Freud sorry for disabled wage row comments October 15, 2014 LORD Freud, a government minister in the department of work and pensions, was forced to apologise yesterday for appearing to suggest that disabled people were “not worth” the full £6.50 an hour minimum wage. Highlighting Freud’s comments at Prime Minister’s Question Time yesterday, Opposition leader Ed Miliband called for the former Labour adviser to consider [...]
Brussels’ bank bonus bashing is an absurd game of whack-a-mole – Bottom Line October 15, 2014 Bankers are not stupid. This is hardly a controversial view in this newspaper, but it is a point which has been messily and repeatedly missed by EU regulators. When the bonus cap came in it took next to no time for the banks to get around it. Now the hammer of the regulators is slowly [...]