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View Full Version : UK facing longest fall in living standards for over 60 years, finds think tank



GregTimo
23-11-2017, 02:02 PM
http://www.independent.co.uk/news/uk/politics/uk-living-standards-fall-longest-60-years-records-began-economy-household-incomes-costs-energy-a8071146.html

I wonder if many will notice this as we have a sort of bad news inflation going on in between all the disinfo and fake news . Anyhow '

'It added that the poorest third of households are set for an average loss of 715 a year by the end of the parliament, while the richest third gain an average of 185.' ..
- My take; For people on social welfare or minimum wage or black economy 715 a year (and that's just the predicted average) would be disastrous (on top of an already grim situation)

Guess what, the Guardian had the story 10 days ago https://www.theguardian.com/business/2017/nov/13/uk-wages-squeeze-continue-until-2022-resolution-foundation-warns

GregTimo
23-11-2017, 02:35 PM
Ex Labour party and union heads so I would take it seriously http://www.resolutionfoundation.org/about-us/mission/

They have even criticised Labour for being too cautious in their manifesto. Labour responding;
' ..However, Debbie Abrahams, the shadow work and pensions secretary, said Labour’s spending plans included 20bn over the next parliament to reverse Tory cuts to social security. She added that the party was committed “to ending the benefits freeze at the earliest opportunity”. .. ' https://www.theguardian.com/politics/2017/may/20/labour-manifesto-keep-planned-tory-benefit-cuts-resolution-foundation
Yikes!

Count Bobulescu
23-11-2017, 04:53 PM
France recently overtook the UK as the 5th largest economy. Both UK and France will soon be overtaken by India. California is currently neck n neck with the UK.

Count Bobulescu
06-09-2018, 10:41 PM
Amid the populism erupting across Europe and the U.S., a new report in the U.K. recommends that the British government fundamentally reorder the economy to make it fairer to the young, workers and people left behind by globalization.


The report (https://link.axios.com/click/14382328.34271/aHR0cHM6Ly93d3cuaXBwci5vcmcvcmVzZWFyY2gvcHVibGljYX Rpb25zL3Byb3NwZXJpdHktYW5kLWp1c3RpY2U_dXRtX3NvdXJj ZT1uZXdzbGV0dGVyJnV0bV9tZWRpdW09ZW1haWwmdXRtX2NhbX BhaWduPW5ld3NsZXR0ZXJfYXhpb3NmdXR1cmVvZndvcmsmc3Ry ZWFtPWZ1dHVyZQ/58739f36cb4a2be3538b51c0Bf303d76c), issued yesterday by a broad-based group assembled by the Institute for Public Policy Research, criticizes an economy that works better for British investors than company employees. It has attracted heavy coverage in the British media.


The details: Among other things, the report calls for organizing half the work force into unions, raising capital gains taxes and increasing the minimum wage. Per the report:




The economy has flattened whole swaths of the British population. "Young people have been hit particularly hard many unable to afford a home of their own, and on course to be poorer than their parents. Whole communities feel left behind. Many people feel powerless and fatalistic."

"The central argument of this report is that a fairer economy is a stronger economy. "