The fact that "growth in earnings" nationally is lagging well behind the inflation rate is well documented, but it would be interesting to see the changes in pay levels on a regional basis, and whether the most recent 2.2% increase in the July-September quarter would be replicated in all areas (Jobs data suggests Britain`s employment boom has ended, 16/11/17). Presumably this percentage rise is positively affected by pay levels in the City, as it is difficult to see levels rising nationally, even at 2.2%, when a pay freeze for state sector workers is in operation.
The truth is that if as much had been invested by successive governments in education and infrastructure in all areas as it was in London, the UK`s productivity problem would be less significant. A sensible tax policy for the very rich would have prevented short-termism in business, and encouraged CEOs to invest in technology and training rather than to accumulate wealth for themselves and shareholders!
No comments:
Post a Comment