States of Guernsey employees to receive real-terms pay cut in 2024

Channel
Guernsey
Employment
Civil Service
Wednesday 26 July 2023 at 5:33pm

Back in March unions agreed to accept a salary rise of 1% below June's RPIX figure. Credit: ITV Channel

States of Guernsey staff will be given a real-terms pay cut next year.

Back in March, unions agreed to accept a salary rise of 1% below June's RPIX figure - the rate of inflation minus mortgage interest payments.

With RPIX announced as 6.8%, States' employees will receive a 5.8% wage increase for 2024.

The overall rate of inflation in Guernsey has dropped to 7.3%, lower than the UK and Jersey but still well above the Bank of England's 2% target for healthy growth.

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