Only if the inflation was being demand led driven by excess money from public sector workers. Not sure nurses and teachers are the main driver of inflation in reality.Thus helping increase inflation.
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Only if the inflation was being demand led driven by excess money from public sector workers. Not sure nurses and teachers are the main driver of inflation in reality.Thus helping increase inflation.
Adding money to the accounts of 5.5 million people would surely make a difference.Only if the inflation was being demand led driven by excess money from public sector workers. Not sure nurses and teachers are the main driver of inflation in reality.
10% of £60 odd . But you know that. So they’ll get around £67 a weekBenefits up 10% in April as well. Workers getting very little
Ah, I see.No. I'm talking about those that control these things. It suits them fine the way it is now.
But they are no better off in real terms so should maintain the status quo, and its not them driving inflation right now.Adding money to the accounts of 5.5 million people would surely make a difference.
They could. And it might cause a recession.But they are no better off in real terms so should maintain the status quo, and its not them driving inflation right now.
The government could tax millions more to pay for the rise which could be considered a deflationary measure.
It's a minor element when inflation is being driven be increased energy/food costs, supply shortages, and currency depreciation, thanks in part to Brexit, Covid and Ukraine.They could. And it might cause a recession.
People are not rational creatures so if they feel better off they will spend more. Also the inflation calculation is based on the average, so if what you like to spend your money on isn't more expensive you may well buy more of it, which would increase inflation if the supply didn't increase at the same rate.
I assumed we were talking about annual cost of living increases.Different services have different budgets. if one service has improved their performance more than another then maybe they deserve a higher rise. Maybe one has a more of a problem recruiting than others or faces tougher competition from the private sector. A flat rate across the board will ignore a lot of factors.
10% of £60 odd . But you know that. So they’ll get around £67 a week
2% at minimum wage will be more
.
this country is awash with profits in most sectors, which will be filtered away to overseas concerns and hedge funds
some see that as a good thing though and god forbid people near the bottom get 10% of the little they receive
keep voting tory , if you want more money to leave the country, whilst those within the country are demonised as feckless and enemies of the people
it really is that simple
As I said earlier, I’m not an economist. Does this mean that public sector pay can never rise at the same level as inflation? Wouldn’t this lead to public sector workers facing a real life pay cut every year?Thus helping increase inflation.
NLW has gone up a decent amount so atleast the lowest paid are getting something. Not enough like but better than some.yeah but what are workers getting? footing the bill for everyone else.
What's caused the pound to plummet in recent years..The pound plummets in value compared with other currencies.
Foreign imports become more expensive and so foreign items become more unaffordable and overall quality of life decreases.
People can't afford homes anymore as they can't compete with foreign investors whose foreign money is now worth more pounds than it used to.
Everyone ends up renting from foreign investors, pushing British money out of the country, strengthening other economies and weakening our own.
The pound plummets further.
No. It's a balancing act. As you add more money into the system, unless supply increases at the same rate, you get inflation. Too much on either side of the scale at once is bad.As I said earlier, I’m not an economist. Does this mean that public sector pay can never rise at the same level as inflation? Wouldn’t this lead to public sector workers facing a real life pay cut every year?
So how do you decide with the public sector which years they receive above/below/matching inflation pay rises to ensure they haven’t taken real life pay cuts over the span of their careers?No. It's a balancing act. As you add more money into the system, unless supply increases at the same rate, you get inflation. Too much on either side of the scale at once is bad.
Personally I'd like to look at better pay in the public sector as a trade off for the extremely generous pension contributions.
I doubt we can afford to give a pay rise every year, so you don't.So how do you decide with the public sector which years they receive above/below/matching inflation pay rises to ensure they haven’t taken real life pay cuts over the span of their careers?
I assumed we were talking about annual cost of living increases.
I’ll use firefighters as an example here. In 2013 a competent firefighter earned £28776. In 2023 they are on £32244. If pay had matched inflation then the current pay should be £36932.I doubt we can afford to give a pay rise every year, so you don't.
When you do, you do what companies do. You look at your budgets and guess what you can afford.
Good question, I can’t even think what the actual name for annual rise is across the public sector? Police say annual pay award, fire service say pay increase, NHS seem to say pay rise.What's a "cost of living increase"? - I don't think I've ever had one of those.
Just keep pay in line with inflation!
Good question, I can’t even think what the actual name for annual rise is across the public sector? Police say annual pay award, fire service say pay increase, NHS seem to say pay rise.
Who knows!
I’ve said it before, public sector pay should just be in line with inflation.