Yes!
The price of everything has gone up: low pay rises is giving employers a discount. Why would you want that?
Power to Mick Lynch
- Thread starter newbiejim
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The price of everything has gone up: low pay rises is giving employers a discount. Why would you want that?
Oh god, put another record on.
Where are you getting this information from? My 1000+ private company certainly hasn't been dishing out inflation busting pay rises. It was 2% across the board in April.
Says the person still harking back to the 1970's!
Ok let's try BJ's record then
Oh, that one's definitely broken...
Average weekly earnings in Great Britain - Office for National Statistics
Estimates of growth in earnings for employees before tax and other deductions from pay.
www.ons.gov.uk
The world is bigger than your company Percival
Soldato
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Maybe they aren't making enough money? Maybe they aquired? Maybe they paid a dividend? There are many reasons that do not apply to public services.
Soldato
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Well to be fair the cards are lined up nicely for a repeat...inflation, unhappy workers, currency depreciating, Tory government
I would suggest reading the part: Interpreting average earnings – base and compositional effects. People in the private sector have not had an 8% pay increase. Saying that, aren't most of the RMT workers striking classed as private sector workers?
This all sounds incredibly familiar and fore-telling.
www.economicshelp.org
UK Economy in the 1980s - Economics Help
The 1980s was a period of economic volatility and structural change. Graphs and stats to show recession of 1981, boom of late 1980s and whether the 1980s left a positive legacy for economy.
www.economicshelp.org
I actually did, and looking back at the last few releases of the same report they do acknowledge the distortion from the base and compositional effects but in this latest one I linked they say they have mostly worked out of the system. I know there is far more nuance than just the 8% figure, but lets not miss the wood for the trees, the difference in the amount of pay increases between private and public sector atm are stark, but it only seems to be the public sector that are being labelled greedy and being told to suck it up?. We also have this thread on OCUK here talking about expected pay rises this year, including ones already given, https://forums.overclockers.co.uk/threads/pay-rise-2022.18948046/page-8 and while the majority are in the 2-6% range (ignoring the pessimistic 0 ones
) there are plenty of private sector people getting 10%+ and most of the public sector less than 2%I honestly don't know for the purposes of the ONS report. If they were then that would mean others are getting even more, as the RMT have had 0% for 2 out of 3 years afaik.
If you take these Forums too seriously, you'd think everyone has a bitcoin funded Lamborghini, Rolls Royce or Ferrari.
Most of us I would imagine are just glad to be able to afford the basics. My parents really struggled through the years of 15% mortgage rates and I dread to think how we'd be able to cope if those days returned.
Most of us I would imagine are just glad to be able to afford the basics. My parents really struggled through the years of 15% mortgage rates and I dread to think how we'd be able to cope if those days returned.
I tend to not go in motors that much! But I have had a ride in Kindai's previous GTR
To be fair, I think this forum does represent an above average income demographic, high end computing is an expensive hobby!
The country would implode far before that for sure. In my (laymans) opinion, it's the level of indebtedness and amount of mortgage debt our economy is based on that won't let interest rates get that high, they will let inflation run rampant which in the short to medium term will cause just as much pain to the average person, just in a different way.
Soldato
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My point is, going by your logic then there would never be a wage rise for anyone, ever.
It's a bit more nuanced than that.
Soldato
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I tend to not go in motors that much! But I have had a ride in Kindai's previous GTR
To be fair, I think this forum does represent an above average income demographic, high end computing is an expensive hobby!
The country would implode far before that for sure. In my (laymans) opinion, it's the level of indebtedness and amount of mortgage debt our economy is based on that won't let interest rates get that high, they will let inflation run rampant which in the short to medium term will cause just as much pain to the average person, just in a different way.
Re interest rates, they will go up, at a guess to 4 or 5 pc. This is for macro reasons of course so not much we can do. So a fix of 6pc or svr of 7pc anyone?
Yes! That would solve the strikes.
Increase benefits too.
Tax the rich.
Introduce housing taxes of 10% of the value of the property every year for people whose houses are worth more than £250,000.
This still comes down to the age old capitalism problem. Private sector wages are typically dictated by company performance. If you work for a decent company and they do financially well then employees are rewarded with pay rises and bonuses.
Public sector is pretty much solely funded by the taxpayer. So the only way more money is funneled that way is hiking taxes to the general taxpayer, or pulling funds elsewhere.
Public sector is known to have quite a lucrative pension scheme though. But really it should be a case of if they don't like working in public sector then they're more than free to look for a job in the private sector.
Regardless this argument about public sector vs private sector is moot, as most of these rail workers who are striking work for private companies right? All the TOCs are private? It's only track workers and signal workers who work for network rail that would be classified as a public sector worker.
Soldato
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Or, reduce government vanity projects? What about an SWF?
en.wikipedia.org
Bit late now unfortunately.
List of sovereign wealth funds by country - Wikipedia
Bit late now unfortunately.
This is of course true, in absolutely every country.
Soldato
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It is true, we are just at the “basket case” end of the spectrum so things are much worse.