Speed Reading — Bank of England - Level 4 — 200 wpm

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The Bank of England voted to strike for four days for higher pay. It will be the first strike by the Bank's staff in 50 years. Over 95 per cent of bankers who voted chose to strike. The Bank offered its workers a one per cent pay rise. However a third of staff may get no pay rise. The workers' union said that because the bank was unwilling to talk fairly, its offices in the City of London would not be able to work properly during the strike.

The Bank of England was set up in 1694. It is the world's second oldest central bank. Its workers are suffering financially. Their annual salary increase is capped at one per cent. Inflation is 2.9 per cent. The workers are taking action, "because of the bank's total refusal to accept that its workforce is struggling to meet their costs of living". It said it was "shameful" that an "iconic symbol of financial services is ignoring…hardworking staff."

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