Bank of England win

Unite declared victory after it announced an end to its pay dispute at the Bank of England earlier this week (September 5).

In a victory for the workforce, Unite members at the bank have voted to accept a deal and end the dispute which brought three days of strike action in August.

Unite regional officer Mercedez Sanchez said, “Unite is pleased to bring the Bank of England dispute to an end having secured significant improvements for staff across the organisation.

“Unite members have shown that by standing firm against an employer attempting to ignore their rights they can succeed,” she added. “Unite will now be involved in all future pay negotiations at the bank from the outset. We welcome the bank’s new commitment for fair pay for all its staff.

“During the three days of strike action Unite members made it clear that the current pay situation was unacceptable and the union welcomes the bank’s acknowledgement that changes must be brought forward. As part of the deal Unite has also secured extra annual leave for bank staff, as well as a payment for lower paid staff in the 2017/18 pay review.”

The successful deal reached follows strike action in August — it was the first strike at the Bank of England in 50 years and the first ever strike at the bank’s headquarters.

On the first day of strike action, protestors wearing Bank of England governor Mark Carney masks and holding placards demanding fair pay gathered outside Threadneedle Street, where they were joined by shadow chancellor John McDonnell and Unite assistant general secretary Gail Cartmail, among others.

Unite balloted its members on the settlement during August. 60 per cent of Unite members accepted the new offer in order to end the dispute at the bank.