WORKERS should be prepared to accept below-inflation pay rises to avert spiralling inflation, the chancellor said yesterday.
Admitting the next year wouold be difficult, Alistair Darling appealed for companies to show restraint as inflation soared to 3.3%.
"The last thing any of us want is the situation in the 1970s and 1980s where you lost out becuase, whatever your pay increase it was simply eaten up by prices in shops," he told the BBC.
MPS could get Pay Boost
An annual pay` rise of £40,000 could be given to MPs in return for the scrapping of their contreversial second homes allowance.
The top up to MPs' current £61,820 salaries would be worth about £24,000 after tax - so for those MPs who dont blatantly abuse the system already will now be rewarded by a 25 % pay increase while The Chancellor demands that normal people should be awarded less than 3.3%
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