LONDON: More British employers are planning pay rises than at any time since the global financial crisis as they struggle to recruit staff following the coronavirus pandemic and Brexit, data from the Confederation of British Industry showed on Monday. The CBI said 44% of businesses intended to raise pay in line with inflation and 24% planned above-inflation pay rises, the highest combined percentage since it started surveying businesses about this in 2009. "Pay intentions are rising across the board as firms reopen and the economy recovers," Matthew Percival, the CBI's director of skills and inclusion said. The prospect of higher prices is likely to concern the Bank of England as its policymakers meet this week. Make UK also criticised a recent government decision to raise employers' social security contributions.- Reuters

Source: The Star September 19, 2021 22:52 UTC