The Chancellor approved above-inflation pay rises for millions of public sector workers in a statement on Monday afternoon
Chancellor Rachel Reeves accepted in full the recommendations of the independent pay review bodies for teachers and NHS workers The Chancellor announced above-inflation pay rises for millions of public sector workers in a statement on Monday afternoon.
Luke Sibieta, an analyst at the Institute for Fiscal Studies who specialises in education, had estimated that the 5.5 per cent pay rise for teachers would cost the Treasury between £1.05bn and £1.35bn, depending on how much it presumes schools can afford with pre-existing budgets.: “We know that every additional 1 per cent on teacher pay rises costs about £300m. So under the assumption that schools could already afford 2 per cent, that would cost £1.05bn.
She added: “However, we should not take for granted the substantial financial challenges this Government has faced to be able to find this new funding. She told the House of Commons that the Government has inherited a projected overspend of £22bn from the previous Tory administration. “Clearly, there is still some way to go to restore what teachers and school leaders have lost since 2010 and we will expect this to be addressed in future pay rounds. This announcement is however a strong signal to the profession about a new course of direction in education.
Pepe Di’Iasio, general secretary of the Association of School and College Leaders , said: “We are very pleased that the independent pay review body has recognised that teacher pay must be significantly improved to support recruitment and retention, and that the government has fully accepted their recommendation.
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