I found a section of the IFS’ recent commentary on the current economic environment to be quite curious:
>I’m not sure most households have yet appreciated quite how much difference it will make. Put all this together and it really does work out that a full-time worker on the minimum wage should be better off this year than last, while someone on median earnings of about £29,000 should be only very slightly worse-off, if at all, even with earnings growing less quickly than prices.
Well why not just do what they’ve already said they would do with state pensions and jack them up by inflation?
*No sir not inflationary at all…*
This is not a hard decision at all. One lets pay rocket for the wealth creators (i.e. execs and related chumblies) and punish the workers to fund it.
This is the Tory way, this has always been the Tory way, this will always been the Tory way.
Until those who do the **actual work** say “No more!”, the Tories will continue to bleed what vitality they can from your marrow.
A far harder decision is: what to do about profits. Profits are, by far, the strongest inflationary pressure. Wages do not even start to compare.
I can see them upping minimum wage by maybe even another £1 again like at the previous year. It wouldn’t be till April though.
That’s about the only change I see them doing.
Why do they keep insisting that this inflation rocket is fueled entirely by pay? Pay has been stagnant for years. It’s the supply chain and staff shortages (in all but especially) key sectors caused by Brexit and worsened by the pandemic that has sent prices soaring. Pay is just reacting to that.
If the government want to tackle inflation, they need to tackle the actual causes.
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I found a section of the IFS’ recent commentary on the current economic environment to be quite curious:
>I’m not sure most households have yet appreciated quite how much difference it will make. Put all this together and it really does work out that a full-time worker on the minimum wage should be better off this year than last, while someone on median earnings of about £29,000 should be only very slightly worse-off, if at all, even with earnings growing less quickly than prices.
Well why not just do what they’ve already said they would do with state pensions and jack them up by inflation?
*No sir not inflationary at all…*
This is not a hard decision at all. One lets pay rocket for the wealth creators (i.e. execs and related chumblies) and punish the workers to fund it.
This is the Tory way, this has always been the Tory way, this will always been the Tory way.
Until those who do the **actual work** say “No more!”, the Tories will continue to bleed what vitality they can from your marrow.
A far harder decision is: what to do about profits. Profits are, by far, the strongest inflationary pressure. Wages do not even start to compare.
I can see them upping minimum wage by maybe even another £1 again like at the previous year. It wouldn’t be till April though.
That’s about the only change I see them doing.
Why do they keep insisting that this inflation rocket is fueled entirely by pay? Pay has been stagnant for years. It’s the supply chain and staff shortages (in all but especially) key sectors caused by Brexit and worsened by the pandemic that has sent prices soaring. Pay is just reacting to that.
If the government want to tackle inflation, they need to tackle the actual causes.
“Let them eat cake”