The sector faces unprecedented financial challenges and some major uncertainties. While these matters are causes for serious concern, we remain committed to sustaining excellent pay and benefits as part of our attractive and competitive total reward package.
We have supported the pay outcomes from the collective bargaining arrangements and we are pleased to see that in the last six years’ pay rounds the value of pay points has not declined in real terms at all. Independent calculations have shown that all pay spine points have kept pace with inflation since 2013-14 and that the lowest points have increased by 6% ahead of inflation in this period, using the official measure of consumer inflation.
We fully support the targeting of higher increases where we can to our lower paid colleagues and further demonstrate this with our commitment to paying the Voluntary Living Wage of £9.30 per hour.