UK PAY SETTLEMENTS DROP TO LOWEST SINCE DECEMBER 2021

British employers offered the lowest pay settlements in more than three-and-a-half years in July and hiring continued to slow - albeit by less than in previous months - according to surveys of employers and recruiters released on Monday.

The figures are likely to reassure some Bank of England policymakers that an upsurge in inflation will prove temporary but also highlight businesses' fears of another round of tax rises in finance minister Rachel Reeves' November 26 budget.

Learn More