People still think high inflation will be transitory? Central banks were peddling that myth and got caught pants down, let's face it prices go up fast but they rarely if ever come down. Yes inflation rate will fall but prices won't.
Power to Mick Lynch
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No, there are 3 ways, you can fund public services better through borrowing.I've made this point a few times in this thread, but yet to see a decent counter argument.
I don't think you'll find many on this forum who will disagree with your first point. I actually wonder how many of these rail workers voted for Brexit on the premise of getting better pay.
As for better funding of public transport. There's only 2 ways this will happen, (well 3 but the unions will reject any cost saving measures) increasing ticket costs, or increasing taxes.
Every December when they announce the price increase of next year's tickets causes an uproar from its customers, who complain of forever increasing costs yet the rail network still performs badly - late trains, lack of capacity etc. Rail was always supposed to have been promoted as the most cost effective way of travelling - it hasn't been that way in years, even with the costs of fuel rising.
The second method is increasing general taxation to divert to rail transport will also cause uproar when the majority of taxpayers don't use the rail network - why should their taxes be subsidising someone else's rail tickets.
Also need to remember that keep increasing ticket prices and eventually it'll just be a transport system for the wealthy, as the majority of people won't be able to afford to use it.
The Conservatives love increasing borrowing, but all they do with the money is funnel it into the financial markets.
How about instead we borrow to invest in critical public services and infrastructure?
How else are we going to do this modernisation that needs to be done to boost productivity? The magic modernisation tree?
Do you have a pension pot? As that'll be one of the greedy shareholders you're moaning about...
And people don't seem happy with the increased costs!
And still people are moaning about workers asking for higher wages
Herp derp. The "exploitation" trope was and still is rubbish. There was a job paying X amount, a worker decided that was enough for them to travel to another country and take that job. And as shown, all that has happened is now a massive labour shortage (which isn't a good thing) so the foreigners weren't taking jobs away from anyone, they were filling a gap that was required. And introducing an artifical shortage in a commodity (the labour market) and then seeing it's cost rise due to said shortage isn't evidence that the normal cost for that product was too cheap. Else you could argue fuel should have always been £2 a litre...
I saw this morning that to give every public sector worker the full inflartion payrise it would cost £10bn. Thats peanuts compared to what was spaffed on ppe for their mates or fraud on furlough loans.
The restriction on using red diesel in plant is due to bring in an extra £2bn per year to the treasury and that was before fuel went up so should be slightly more now.
They are getting billions more in from the current price of fuel at the pumps.
I think £10bn is a reasonable price to pay and in reality it would be less and public sector workers seem "happy" to take 7/8% to match their private sector colleagues.
The restriction on using red diesel in plant is due to bring in an extra £2bn per year to the treasury and that was before fuel went up so should be slightly more now.
They are getting billions more in from the current price of fuel at the pumps.
I think £10bn is a reasonable price to pay and in reality it would be less and public sector workers seem "happy" to take 7/8% to match their private sector colleagues.
You are spot on but this govt don't want to spend money on the people they want to funnel it into their own and their mates pockets. They are spin masters, they've already got the country whipped up believing these are Labours strikes and down to greedy union bosses. I see very little hope for any change while Boris or any other of this lot of cons are in charge. They are literally trashing the country before our eyes and people are cheering them on for doing so.
Yea, I'm not sure where @fez is coming from on this one
prices will only consistently come down if we enter a period of deflation, which economically is even worse as far as my understanding goes.
There is no endless money supply,as the last labour government discovered and the funny thing is if they do get back into power the Tories haven't had a chance to balance to books due COVID etc so it will be funny watching their reaction when they realise their normal play book won't work
Looks like it's actually closer to 21 billion, but the government were already anticipating giving 7 billion worth of pay increases. It also throws in the option of giving everyone a 2% tax deduction - which probably isn't as lucrative as a 9% pay rise, but would at least benefit every tax payer.
Rail strikes: Give public sector workers a pay rise or cut everyone's taxes by 2%? Chancellor left with tough set of choices
Public sector workers have seen their pay fall in real terms by 4.3% since 2010, but giving them a rise in line with inflation would amount to a huge sum, says Sky's Ed Conway.
Soldato
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Uk government just can't afford it unfortunately.
Their too busy giving public money to their mates who then fail to deliver the contracts.
Their too busy giving public money to their mates who then fail to deliver the contracts.
Why wouldn't it if the cause of the massive increase is mainly a large proportion of the worlds grain being stuck in Ukraine. That doesn't make sense. General rising costs will remain but increases based on a singular blockage will decrease.
Why does the cost of energy / fuel fluctuate if things only ever go up.
In a somewhat simplistic view, when you have essentially spaffed away....
- £37bn on Test & Trace
- £5bn on COVID fraud
- £11bn on not getting insurance for interest rate rises
- £hundreds of billions from Brexit and a shrinking economy
- A tripling of the original HS2 budget (£33bn > £100+bn)
Hundreds of millionspotentially £billions on faulty PPE- £1m on a feasibility study for a pointless bridge
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The value of money always inflates over time though. If you look at the cost of basic things like a loaf of bread and a pint of milk over the last 40-50 years. It's steadily increased in price.
You would almost expect with the efficiencies in manufacturing etc that things would get cheaper. It's not like a milk farmer has to manually milk all his cows now.
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Looks like it's actually closer to 21 billion, but the government were already anticipating giving 7 billion worth of pay increases. It also throws in the option of giving everyone a 2% tax deduction - which probably isn't as lucrative as a 9% pay rise, but would at least benefit every tax payer.
Rail strikes: Give public sector workers a pay rise or cut everyone's taxes by 2%? Chancellor left with tough set of choices
Public sector workers have seen their pay fall in real terms by 4.3% since 2010, but giving them a rise in line with inflation would amount to a huge sum, says Sky's Ed Conway.news.sky.com
Raise taxes to a level not seen in decades, give us a paltry tax cut before the election I would expect.
Wouldn't surprise me. I guess they're hoping the cost of living crisis will blow over in 2 years, then it's back to business.
Going to be interesting how they're going to explain away wages being lower than 2008 levels (adjusted) by 2026. Better get the dartboard out for the blame game.
And even ignoring the above, there isn't a chance in hell this is going to blow over. I read a headline the other day other claiming we're just about half way when it comes to the hurt/decline.
As long as there is a big distraction and someone to blame, they'll likely do a good enough job deflecting.
We already have that
And we still have underfunded services!
Why change a winning formula that wins over the brokebrains every time!
Soldato
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Why would the higher earners want to tax themselves more when they can just tell the plebs to suck it up?
Are they striking for just the drivers pay or everyone such as the cleaners etc?