§ Mr. John Pageasked the Secretary of State for Employment and Productivity if she will make a statement about the reference she has made to the National Board for Prices and Incomes of the claim for overtime pay, recently approved by an independent tribunal, to bank employees.
§ Mr. Harold WalkerAn award by majority decision of a tribunal set up in accordance with the constitution and rules of the London Clearing Banks' Joint Negotiating Council provides that with effect from 1st July, 1969 staff in the clearing banks in receipt of salaries up to £2,350 per annum shall be entitled 97W to payment of overtime for work in excess of seven hours per working day, thus reducing the normal working week from 37½ hours to 35 hours.
The banks have estimated the cost at 5¼ per cent. of the total salaries bill. As there is no productivity justification for an increase above the ceiling of 3½ per cent., the award cannot be seen as consistent with the requirements of the incomes policy. For this reason and because it may have widespread repercussions, it has been referred to the National Board for Prices and Incomes for examination and report.