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These promise to pay inflation (as measured by the retail prices index), plus 1 per cent.
That was reflected not just in the structure of incentive plans, but in pay inflation too.
Runaway executive pay inflation is a fairly recent phenomenon, born of irresponsible tax cuts.
Managing labour is an art form in economies beset by pay inflation.
Then the test for the Co-op will be avoiding pay inflation.
By last year, the rate of pay inflation for all executives in Britain's biggest companies was 7%.
Similar(40)
The Consumer Council for Water said that research showed most customers were not willing to pay inflation-busting price increases, while also seeking reduced leakage.
"Manufacturers for virtually all brand name drugs under review paid inflation-based rebates" to Medicaid because their prices rose faster than inflation, the report said.
After years of pay undershooting inflation and so falling in real terms, British wages rebounded last year.
"But the fact is their take-home pay outpaced inflation in the 1990's".
That savers are not getting a decent return for their cash is seen as regrettable but an acceptable price to pay providing inflation stays low.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com