'Would you forgo a payrise to help stop inflation?' Poll discussion

edited 30 November -1 at 1:00AM in Money Saving Polls
51 replies 4.8K views
edited 30 November -1 at 1:00AM in Money Saving Polls
Poll between 04-12 August 2008:

Would you forgo a payrise to help stop inflation?

Inflation, which is the rate that prices rise, is on the up. Much is due to the international increase in cost of oil and food, yet one way to keep it low, that the government has requested, is to ask that pay settlements are not above inflation. That way, less money pours into the economy, so there’s lower demand keeps prices stable.

On the positive side, if we all had a pay rise freeze we may all gain as prices wouldn’t rise as quickly. Yet without a payrise, your money won’t stretch as far with the current inflation rate.

Ignoring disagreements over the economic theory, would you forgo an above-inflation rise for the greater good?

Which of these is nearest your answer?

A. Yes, we’ll all gain. I think we should all give it a go. 19% (1035 votes)
B. Yes, I’ll do my bit. Even if everyone else doesn’t, it’s important, I’m willing. 11% (586 votes)
C. No, as I’d be alone. I would, but no one else will, so there’s no point. 29% (1598 votes)
D. No, I need more money now. Even if it hurts in the long run. 18% (985 votes)
E. No, I just want as much cash as possible. The sooner I get it the better. 23% (1278 votes)

This vote has now ended, but you can still click 'post reply' to discuss below. Thanks :)

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Replies

  • ceridwenceridwen
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    I couldnt actually find a voting option that reflected my position - which is, no I definitely wont cut back at all on my expectations regarding payrises on the hypothetical assumption that I would be helping reduce inflation that way. (I had to reluctantly vote for e. in the end - as it doesnt reflect my position - but it came nearest to it. I dont like the wording of it - as it sounds like those voting for this one dont care - and that is not the case.)

    It just ISN'T the case that the ordinary worker in the street (such as myself) is in any way responsible for inflation - so why should we be expected to forego anything cost-of-living rises wise to help deal with inflation. Au contraire - inflation has been caused by factors that are nothing to do with us - but we need to have high enough cost-of-living rises to cope with it.

    If anyone needs to forego payrises to help on the inflationary front - then it is those in highly-paid jobs that are busily awarding themselves large payrises. It certainly isnt ordinary little Joe and Joanna in the street.
  • maninthestreetmaninthestreet Forumite
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    I did my bit a few years back - I didn't have a payrise for 4 years.
    "You were only supposed to blow the bl**dy doors off!!"
  • beaker141beaker141 Forumite
    505 Posts
    Part of the Furniture 100 Posts
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    Surely we now need inflation, the euro exchange rate has deteriorated to such a point that I need more pounds to get back on a level field with prices vs eurozone ? Surely if we all didnt take pay rises, but europeans did then we get left behind ?
  • ManAtHomeManAtHome Forumite
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    Couldn't find the option "I will just as soon as govt stops printing money to help their mates/future employers in the city" (a much bigger cause of inflation than us plebs getting an extra percent or two).
  • It's a no brainer.

    When the goons running the country get paid what I think they are worth then I'll take a hit.

    Until them - like them - I want a free kitchen extension, illegal salaries and visas for my foreign servants and the whole summer off!
  • Coveredinbees!!!!Coveredinbees!!!! Forumite
    3.5K Posts
    Part of the Furniture 1,000 Posts Name Dropper Photogenic
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    No it's more government propaganda, not that I'm likely to get much of a raise anyway
    Is it summer yet?
  • I do the poll quite often but this is my first ever post as it made me very angry this week.

    I think this poll is fundamentally flawed, obviously no one's going to turn down a pay rise unless they're the head honcho of some company turning down their 5 million pound bonus that they can well afford to live without in order to avoid public outcry.

    We should be thinking about whether or not its responsible for our employers to offer us one. Nobody could expect someone struggling on 15k to turn down a payrise to 16k that would help them heat their home in order to keep inflation down, in my opinion anyone who says they would is lying to appear socially responsible. At the end of the day a worker's responsibilty is to themselves and their family.

    I think this is the kind of thing that has to come from above. MPs need to lead by example with their own wages as do those in the utility and banking sectors.
  • dhassendhassen Forumite
    759 Posts
    I have to say there should be an option for those of us receiving below inflation pay offers.................... yes I do want more money, but I'm not after above inflation - just a match would do rather than the insult we normally get slapped with (pay cut....... cheers gordon).
    :)

    EDIT: and i agree whole-heartedly with all the above angry posts...... MPs declined an above inflation pay rise just to look good that really made me angry, because then they can say 'well we didn't take one, we're doing our bit'........ oh but I can't afford a pad in london, a new kitchen for 20K or a £300 food blender (?!) from John Lewis so why the f%%* should I pay for MPs to get them?!!!!!!
    winds me up
    Official DFW Nerd Club - Member no. 784 - Proud to be dealing with my debts
  • JimmyTheWigJimmyTheWig Forumite
    12.2K Posts
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
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    Agree with what's been said above, particularly ceridwen. None of the answers fitted how I feel (that ordinary people's payrises are little to do with it and the whole question is about trying to make us pay for flaws in the system) but voted C on the basis of "no-one else will" being the closest to "big business and the government won't do their bit".
  • OlliebeakOlliebeak Forumite
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    Wouldn't it be absolutely wonderful if we were offered pay rises in line with inflation - obviously that depends on how 'they' measure 'true inflation'!

    Gas/Elec/Oil prices? Petrol prices? House prices? Bank rates?

    2% of basic wage is obviously still 'very little' - where as 2% of top salary is a very different figure altogether! And we are all very much aware that many of the nations top earners don't just have their salaries to bring in the money - but bonuses as well that aren't linked to cost of living/inflation but to the company performance.
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