Budget

[carmanmemoranda]

Can you not figure it out?

if there are no applicants then the employer has to either.
- Live with out the person
- Innovate to do more work with fewer people
- offer better terms.

Great soundbite.

 

[ajohn]

Why can't they earn a living doing these jobs. For some it's all they might be able to do well

I took a look at 2 low paid jobs. Amazon and Tesco. Amazon was a permanent job and accepted 16 and up.

Tesco for some reason 18 years old min. 3 jobs in one store each a single 10hr shift and temporary. One shift 8am start the other 2 11pm finish and both weekend jobs. To get support someone would need to do 2 shifts. 4 to achieve max wage ????? is implied.

This leaves me wondering what is going on in practice. Say some one takes the 2 shift route. Some one else needs to make up the total time that would be needed for a permanent job so they do 2 shifts as well. Salary 1/2'd in each case. Some find they need more than 1 job to make up the hours needed.

I'm comparing with a normal way of providing a service with say 24hr coverage - 3 shifts and each is a full time job. Tesco could use 2 shifts. What do they actually do?

Another area comes into this, means tested in some fashion - I've not looked at the detail.
9 months to 2 years old, you can get 15 hours per week of free childcare · 3 to 4 years old, you can get 30 hours per week of free childcare.
They need 18hr of work for benefits. It was 16. 9 months is interesting as well. Some choose to pay for care as soon as maternity leave ends - if they can afford it.

NIC was changed in another way. Salary where the payment must be made lowered. This implies that some were just offering the hours limit that avoided paying it.

Child allowance
If you earn £60,000 or more before tax each year you can still claim Child Benefit, but you'll have to start paying a 'Child Benefit tax charge'.
If you live with a partner and you both earn £60,000 or more, whoever earns the most will have to pay the tax charge - no matter who makes the claim for Child Benefit.
If you're eligible you'll get £25.60 a week for your first child and £16.95 a week for any children after that.
Same amount irrespective of income.

This lot in my view relates to poverty levels. The only control really is the min wage and support where it is needed and the support needs to match the needs.

 

[ajohn]

More Reeves
Merging smaller pension funds to make them larger which increases their investment choices and size. Something Canada did a while ago.

Loosening banking etc regs. I expected this and wondered why the Tory didn't. Other countries have. It relates to drops in performance in these sectors.

 

[motorbiking]

...and reduces their ability to diversify and hedge.

I suspect there are greater savings if they align their IT and utility vendors.

 

[ajohn]

..and reduces their ability to diversify and hedge.

No it enlarges their investment scope and allows larger amounts to be invested. I suppose coordination could achieve the same thing.

 

[JohnD]

Smaller pension schemes often have higher charges. Some clients have amateurish trustees who are hoodwinked by slick salesmanship leading to profits and bonuses for the managers that erode returns for the policyholders.

 

[motorbiking]

Surely public sector contracts would be properly tendered ?

 

[motorbiking]

No it enlarges their investment scope and allows larger amounts to be invested. I suppose coordination could achieve the same thing.

Until the one you choose doesn’t perform well and your shortfall leaves the tax payer with a gap.

These aren’t defined contribution schemes.

 

[ajohn]

Best read about the pension changes. It's not long

Rachel Reeves in radical pension shake-up to boost growth

The chancellor wants to merge the UK's pension funds but critics worry about the impact on savers.

www.bbc.co.uk

 

[motorbiking]

Who’d have thought…

The government plans to merge the 86 council pension funds - which include £354bn in investments and are run by local government officials - into "megafunds" run by fund managers.

 

[Andydevon]

Is this Rachel Reeves the economist?

 

[denso13]

Rachael Reeves the Chancellor.

 

[ajohn]

run by fund managers.

Where does it say that they aren't run by investment managers already?

Interesting snippets in the link
The UK's pension fund market is "incredibly fragmented", according to Helen Morrissey, pensions expert at Hargreaves Landsdown. Running these schemes costs money. Each one must pay administration, governance and management costs.
A pension fund runs under certain laws.

On Wednesday, Canadian pension fund, the Public Sector Pension Investment Board, bought the company that owns Aberdeen, Glasgow and Southampton airports in a deal worth more than £1.5bn.
However, big investments can also bring bigger risks, with Canadian pension fund the Ontario Municipal Employees Retirement System being the largest investor in troubled Thames Water.

The bigger the fund the more resilient they are.

 

[motorbiking]

Where does it say that they aren't run by investment managers already?

The bigger the fund the more resilient they are.

In your link. It says who manages them.

I wonder if there are lessons from the banking crisis about being “too big to fail”.

I suspect it’s a sly way to borrow from pensions, like some of the private firms did leaving them to collapse. In this case the future tax payer, pays

 

[aveatry]

Is this Rachel Reeves the economist?

Its Rachel from accounts

Something I have noticed - where has the "cost of living crisis" gone. When labour were in opposition they banged on about it all the time - every piece to camera - every MP interview - PMQs but now they are in power - nothing at all about it. Is it over then.