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According to the management consultancy Hay Group, British workers will receive an average pay rise of less than 1.5% this year, one of the lowest increases in the world.
It was claimed the average pay rise for organisations in the UK will be just 1.46%, less than France (2.2%), the US (1.78%) and Germany (1.48%).
The report also found a significant increase in the number of firms freezing salaries, with 38% of the 2,000 firms polled holding pay levels, compared with fewer than one in five in November.
This research follows the government plans that it would honour public sector pay increases, despite the fact that many private sector companies are enforcing pay freezes this year.