Good evening. The Government has completed negotiations with unions and agreed a pay deal for nurses, ambulance staff and other NHS workers. We have analysis of the offer and what happens next, as well as the latest news on Credit Suisse.
Government and unions agree NHS pay deal
Ministers and unions representing nurses, ambulance staff and other NHS workers have completed negotiations and reached a final offer. The Telegraph understands the terms include a five per cent pay rise for next year, and a bonus of up to six per cent for the current financial year. The proposal for around one million NHS staff, including nurses, ambulance workers and midwives, has been backed by unions, and will now go to their members for a vote. The terms are also understood to include a “Covid recovery bonus” – our health editor Laura Donnelly has more detail on the deal here.
Labour throws back-to-work drive into chaos with pledge to scrap pension reforms
Labour has vowed to reverse Jeremy Hunt’s decision to abolish the lifetime pension allowance. Jack Maidment reports that any uncertainty over the future of the policy could damage the Government’s hopes of boosting the workforce. Mr Hunt said the move to get rid of the allowance would “incentivise our most experienced and productive workers to stay in work for longer”. But Labour said scrapping the tax-free cap will “result in the top one per cent of pension savers getting a massive tax break for their retirement”, as the party promised to undo the decision if it wins power at the next election. Ben Wilkinson argues that Labour has learned nothing from its disastrous record of pensions meddling. And Christopher Hope details the Budget clues that point to a general election next autumn.