Budget
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Simple Labour bashing, no more, no less, they haven't stopped crying in their Kleenex since the dream team won their landslide.
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Note point 3 , he still thinks low wages are good
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MBK also neglects long periods with near zero real growth. Best way to illustrate that
A comment from the same web page
The average French worker produces more by the end of Thursday than their UK counterpart can in a full week.
Britain’s productivity crisis in eight charts
Slowdown in output per hour worked has many facets
www.ft.com
Other countries have shown better recovery from the crisis also in respect to covid.
So now both Labour and the Tory believe the only long term fix is to improve this area of performance. Tory tried reducing corp tax. Didn't achieve anything so reversed the change. Probably really down to running into borrowing problems if they hadn't. Personal taxation reductions can boost GDP but do not do anything about the job people are doing. Tax cuts is the right wing mantra yet we don't really have scope to cut them.
So Labour are trying a different way. One aspect of that is broad support from economists and the money men. One rather important aspect is not borrowing to run the country. LOL This leaves plenty of scope for if they didn't do this and that recovery would be better. OK but other factors such as relative wages have to be considered. Also the nature of the job spectrum. For instance a few million but not all on the min wage. Just what will be the effects of increasing it? The NIC area dials into this as well.
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doing fine thanks for asking.
I've said previously, I favour people getting help developing more valuable skills, so they can bring more value and earn more. I don't favour people just getting more money.. that leads to people out of work and investment going elsewhere. As a tax payer I am happy for low paid people to get some money when they can't deliver enough value to get paid more.
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results vs forecast. meaningless don't you think?MBK also neglects long periods with near zero real growth. Best way to illustrate that
View attachment 361744
A comment from the same web page
The average French worker produces more by the end of Thursday than their UK counterpart can in a full week.
We had been a leader in this area. Mrs T did something about the drop but the result had some definite very negative effects on some sectors. and now just about all are having problems.Britain’s productivity crisis in eight charts
Slowdown in output per hour worked has many facets
Other countries have shown better recovery from the crisis also in respect to covid.
So now both Labour and the Tory believe the only long term fix is to improve this area of performance. Tory tried reducing corp tax. Didn't achieve anything so reversed the change. Probably really down to running into borrowing problems if they hadn't. Personal taxation reductions can boost GDP but do not do anything about the job people are doing. Tax cuts is the right wing mantra yet we don't really have scope to cut them.
So Labour are trying a different way. One aspect of that is broad support from economists and the money men. One rather important aspect is not borrowing to run the country. LOL This leaves plenty of scope for if they didn't do this and that recovery would be better. OK but other factors such as relative wages have to be considered. Also the nature of the job spectrum. For instance a few million but not all on the min wage. Just what will be the effects of increasing it? The NIC area dials into this as well.
Yes, that's the Tories for you. But over the last 14 years they also degraded the country.
Somebody has to start repairing the damage they did.
It won't be them.
What do you define as "value"?
Like it or not, a proportion of the running of this country relies on people who are doing jobs that, in your opinion and by your metrics, are not "delivering value". The sort of things that you wouldn't know were being done, until they weren't being done any more.
Upskill the people who dust your desk, empty your bin, and put your coffee mug in the dishwasher each night.
You'll be awash with lawyers, who are all agog at the cr@p they're working in and with.
The business makes its profit by employing people who deliver a thousand pounds worth of value, and paying them fifty pounds.
The concept is not new.
No I don't. It's a factor that needs correcting somehow. There is no real scope for taxation reduction. The forecast for if things had continued as they were is not that relevant other than as an indication of the result of the change. The important aspect is the flat line.
The biggest question is if the Labour way can work. Well some feel it's likely to. We have to hope it will or remain in the same situation for ever.
Productivity is down since Covid and when working from home numbers exploded. With the lack of productivity in the civil service leading the pack
Cherry picking, you say?
Did Covid affect only UK, or the entire world?
How is the UK doing, compared to our close neighbours at similar levels of development?
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