Pay increases offered by British employers remained steady at 4% in the three months leading up to November, but they are expected to slow in 2025 as companies adjust to higher tax burdens introduced in the government’s latest budget, according to a Brightmine survey.
Current Pay Trends:
Future Outlook:
Pay growth likely to slow in 2025 due to higher employer taxes and a 7% minimum wage increase starting in April.Brightmine forecasts median pay awards at 3% for 2025, down from 4.5% for 2024.Economic Context:
Rising wage pressures persist; official data shows earnings growth accelerating.Bank of England expected to hold interest rates in December (the meeting is Thursdat this week); inflation outlook depends on employer responses to fiscal changes.Employer Response:
40% of employers surveyed plan to reduce salary budgets following the government’s budget measures.Survey Details:
Based on 22 pay awards (Sept–Nov), covering approximately 227,000 employees.****
Bank of England due Thursday, December 19, 2024:
This article was written by Eamonn Sheridan at www.forexlive.com.Hence then, the article about uk pay growth steady at 4 but expected to slow in 2025 was published today ( ) and is available on forex live ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.
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