Bank of England Governor Mervyn King will face questions on bonuses and tax policy from a “stony” audience at the Trades Union Congress today, according to the leader of Britain’s fifth-biggest labor union.
More than 30 miles of London’s highways became no-go zones for the public today when they were reclassified as “Games Lanes” for the Olympics, while a planned strike by airport immigration staff was called off.
Public-sector workers in the U.K. may have to pay more toward their pensions and accept benefits based on average earnings rather than final salary, according to a report commissioned by Prime Minister David Cameron .
U.K. Border Agency staff and other Home Office workers plan to strike July 26, a day before the start of the London Olympics, as part of a dispute over job cuts, pay and the privatization of services, the Public and Commercial Services Union said.
Ed Miliband , the leader of the U.K.’s opposition Labour Party, said that if he wins the next election, due in 2015, he will not be able to reverse all the spending cuts made by Prime Minister David Cameron ’s government.
U.K. 10-year government bond yields stayed near the highest in more than a month as rising stocks and higher-than-estimated industrial output in China damped demand for the safety of fixed-income assets.