I'm sure those who are now unemployed or about to become unemployed due to the Labour NIC raid, will appreciate how well some in society are being rewarded at their expense........the same people who also have suffered from wage stagnation etc. and now no income at all and face an uncertain future as benefit claimants are coming under attack and our economy starts to go into decline.....but good for you, feck everyone else seems to be the Labour message unless you are a Civil Servant, Local Authority employee. . Labour managed to achieve 8% unemployment before they were kicked out of office last time, looks like they are going to head for a new record of unemployment again.
Wait till they combine all the Local Authority pensions and then most likely invest them in crap schemes leaving them broke at the end of it all, see how that prospect is appealing.
Most of the forecasts are showing economic growth for the next two years, the ONS showed a 4.8% boost in overall earnings from July to September 2024. Employment rates are larger unchanged from 12 months ago, but are up in the last quarter.
However, time will tell.
The last quarter was Labour in power = unemployment up, the UK has gone from being the leading growing economy to flat lining, with business and consumer confidence at an all time low, within a few short months of labour talking the UK down. Businesses have already stated that they have adjusted their hiring plans downwards, prices will rise to pass on the increased costs........its lower growth than previously forecast under the other previous administration.
If business and consumer confidence doesn't return, we are up sh*te creek, big style and I expect further tax rises soon. Whilst I don't like Trump we will have to get in bed with him or at least appear to, to avoid a trade war, which will engulf the EU. Too often people forget the economics and interdependences of US global trade, well know expression 'when the US sneezes the world catches a cold'.
Quite a few notable EU leaders recognise the unique position the UK has with Trump, he is an Anglophile, and hope the UKk will be a conduit or bridge between them and the US to mitigate any trade war. I get the distinct impression that Labour will support a EU position on regulation and restrictions on trade and therefore embroil the UK in the EU trade dispute with US, rather than be an honest broker between the US and EU (if getting involved at all) and keep us out of a UK trade war
Well the boost in earnings is most likely Doctors, Civil Servants, Local Authority staff, railway staff. LA staff who may get a 4 day week shortly for the same money. UK productivity especially in the public sector has fallen and continues to fall.
