Rolls Royce has surprised staff by announced that more than 14,000 workers will be given a one-off £2,000 (€2,300) payment to provide support in the face of rising costs across the UK.

Junior management and shop floor staff mainly based at the company’s Derby and Bristol sites will be receiving the payment, Rolls Royce said.

The first payments will be made as part of the August wage for around 3,000 staff members. The remaining 11,000 unionised workers are set to receive the sum after their union approves the amount.

A spokesperson told the BBC that around 70 per cent of its UK workforce will be receiving the payment, adding that it is also “offering our shop floor staff the highest annual pay rise for at least a decade”.

It is not the only UK firm to announce payments to staff to counter the rising cost of living.

Lloyd’s Bank earlier this month announced its own measures to help staff cope. It offered workers a £1,000 lump sum to help combat rising costs (€1,200).

Currently, inflation is being felt in nations around the world due to a perfect storm of pent-up demand

In the UK, energy prices have reached a 40-year high while in Malta, food and non-alcoholic beverages and housing costs have been the biggest drivers of inflation.

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