Move Over Cash & Crypto, This London-based Firm Will Pay Employees Salary In Gold!

Cameron Parry, CEO of London-based financial services company TallyMoney, has announced that his staff has been offered the possibility to get paid in gold rather than pounds and pence, in order to help them keep ahead of inflation.

Parry is understood to be the first employer in the country to begin a trial of a gold payroll, though other companies are now beginning to offer crypto to their staff.

Speaking to the newspaper City A.M. yesterday, Parry said that ¡°with the cost of living crisis going from bad to worse, it didn¡¯t make sense to continue offering pay hikes in pounds when its value is being eroded further with every passing day. It was like putting a band-aid over an open wound.¡±

Why Gold?

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¡°Gold is a time-tested inflation hedge and has maintained its purchasing power for millennia,¡± Parry explained. ¡°At times like these, when conventional money is steadily losing its buying power, gold offers people the best chance of keeping ahead of inflation.¡±

While the Bank of England expects inflation to surge to 10%, by contrast the value of gold has risen 11% since the beginning of the year.

Parry added that ¡°the purchasing power of the pound has been eroded significantly in recent months, while the value of gold continues to steadily rise.¡±

¡°To a lot of people the tried and tested appeal of gold just makes more sense,¡± he stressed.

CEO Himself Has Signed Up For The Scheme

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CEO Parry has begun piloting his gold payroll scheme among senior staff and will soon offer it company-wide. He himself has signed up for the scheme.

Parry employs more than 20 staff and says that those who wish to continue receiving their wages in pounds will be allowed to do so, as per the City A.M report.

Taxes are applied as normal, with the exchange rate for gold to pounds taken into account.

25-year-old employee, Ella Fraser, a digital marketing manager, said: ¡°These days the price of everything seems to be going up, and young people are increasingly worried about the value of the pound in their pocket.¡±

She added, ¡°I think it¡¯s important for bosses to look at more innovative ways at helping their staff through these tough times, and having the option to agree your salary in tally is a great way of doing that¡±.

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