Since April 2017, most staff in Lloyds Banking Group have seen the value of their pay fall in real terms (taking into account inflation) by 1.7%. And if Accord and Unite have their way again, that pay stagnation will continue into 2018 and 2019. The Bank of England is projecting that the Consumer Prices Index (CPI), which is the Government’s preferred definition of inflation, will be at or around 2% in Q4 2020 but this statistic is seriously misleading.
Lloyds Banking Group staff are represented by an independent trade union committed to protecting their interests and their interests alone. LTU is not affiliated to the TUC or any political party and we are free to determine and pursue the best policies for Lloyds Banking Group staff.
LTU represents members in Lloyds, Scottish Widows, Halifax, BOS and the other companies within the Lloyds Banking Group.