monkfish
pfm Member
WYSIWYG.
The Premiership of Mary Elizabeth Truss.Sept 2022 - Oct 2022
- Thread starter TheDecameron
- Start date
WYSIWYG.
Brian
Eating fat, staying slim
No. In what way would it be?
Thanks. Glad I don't read it, the man is writing nonsense. Why would anyone take as gospel the word of a political editor when it comes to saving energy? The 'campaign' was poorly thought through and would have been a waste of money. Good decision to bin it.
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Heckyman
pfm Member
Half a million missing (ex-)workers post Covid might go some way to explaining the UK's "growth problem", or at least the part of it over-and-above the general global growth problem.
Wonder why*, and what the government's plan to address this is?
* - The FT article "Half a million missing workers show modern Britain’s failings" goes on to show the post Covid increases in people unable to work due to chronic pain and mental health issues. What it doesn't explain is why the UK is worse in this regard than other countries.
Wonder why*, and what the government's plan to address this is?
* - The FT article "Half a million missing workers show modern Britain’s failings" goes on to show the post Covid increases in people unable to work due to chronic pain and mental health issues. What it doesn't explain is why the UK is worse in this regard than other countries.
Seeker_UK
Feelin' nearly faded as my jeans
mandryka
pfm Member
Half a million missing (ex-)workers post Covid might go some way to explaining the UK's "growth problem", or at least the part of it over-and-above the general global growth problem.
Wonder why*, and what the government's plan to address this is?
* - The FT article "Half a million missing workers show modern Britain’s failings" goes on to show the post Covid increases in people unable to work due to chronic pain and mental health issues. What it doesn't explain is why the UK is worse in this regard than other countries.
I’m not confident that I understand the terms but this may be relevant
https://www.ons.gov.uk/employmentan.../employmentintheuk/latest#economic-inactivity
they seem to put it down to something to do with students and something to do with lots of people on the sick long term.
The number of those economically inactive because they are studentshave been decreasing since mid-2021 but has increased in recent periods. During the latest period, the number of economically inactive students measured prior to seasonal adjustment showed a decrease, but this was a much smaller decrease than is typically seen at this time of year. As as result, the seasonally adjusted number of economically inactive students has increased. The increase in economic inactivity compared with the previous three-month period was also driven by the long term sick, who increased to a record high.
Jim Audiomisc
pfm Member
The BoE is *required* to act in this way when presented with the situation caused by the Truss/KK 'mini-budget'. It is conforming with the 'rules of engagement' that the *UK Government* have given it.
paulfromcamden
Baffled
You are René Artois AICMFP.
And the Chancellor? "I spook with the Bonk of England and they pissed my plan for the economy..."
TheDecameron
Unicorns fart glitter.
Is it an anomaly where Covid chased off the remaining immigrants from the EU or do we know for a fact this 500k are indigenous, still in the population and not working?
Sue Pertwee-Tyr
Accuphase all the way down
"Listen very carefully, I will say thees only wance..."
"...then I shall change my mind and say sometheeng entarrely different"
Heckyman
pfm Member
Could be but ill health seems to be a significant factor.
"The number of working-age people in Britain reporting multiple serious health conditions had been declining before Covid-19, but it has since rocketed by 735,000 in just two years."
Source: FT analysis of quarterly labour market survey
Sue Pertwee-Tyr
Accuphase all the way down
Might Boris be the Fallen Madonna with the big boobies?You are René Artois AICMFP.
paulfromcamden
Baffled
The FT article the diagram is taken from is titled "Chronic illness makes UK workforce the sickest in developed world"
Chronic illness is the main driver of this stalled labour recovery. Of the roughly half a million Britons aged 15-64 missing from the workforce, two in three cite long-term illness as their reason for not holding or seeking a job. It would be easy to point the finger of blame at Britain’s handling of the virus, but the data suggest otherwise.
...
With direct impacts of Covid ruled out, the most plausible remaining explanation is grim: we may be witnessing the collapse of the NHS, as hundreds of thousands of patients, unable to access timely care, see their condition worsen to the point of being unable to work. The 332,000 people who have been waiting more than a year for hospital treatment in Britain is a close numerical match for the 309,000 now missing from the labour force due to long-term sickness.
https://www.ft.com/content/c333a6d8-0a56-488c-aeb8-eeb1c05a34d2
Nick_G
pfm Member
Straight from British Ontelligence Headquitters...
Colin L
High-tech low-life
No, that's Truss in about 6 months time
Nick_G
pfm Member
Nah he's the sausage with the hidden stick of dynamite.
Seanm
pfm Member
Bloody hell. What a country. And before I get the usual Why don't you leave then, the thought has occurred. I'm less and less confident it's a safe place to raise my children.
TheDecameron
Unicorns fart glitter.
That’s grim. It would be interesting to see the data broken down by age group and more specifics from the ‘waiting for hospital treatment’ headline- ie does that include waiting to be seen from first referral or already seen but further tests/ surgery not completed? Government was aware Covid would create longer term problems in society and budget ( at least where I am) was allocated to define the problem of ‘long covid’.
I’m pretty certain if we still had EU freedom of movement, we would see a lot of theses vacancies filled- mind you that was before the Tories collapsed the pound.
paulfromcamden
Baffled
I thought this remark in the comments section was about right.
Politicians in the uk currently see healthcare as an added cost rather than as a fundamental requirement for UK plc’s workforce.
matthewr
spɹɐʍʞɔɐq spɹoɔǝɹ ɹnoʎ sʎɐld
The reason the rise was controversial was because the rising inflation was mostly coming from supply side effects (i.e. energy prices, supply chain disruption, etc) for which the interest rate mechanism does not work (in as much as it does at all). And given that we were in the middle of a cost of living crisis we had literally the opposite of an overheating economy and by raising rates the bank was looking to take more demand out of the economy which is basically going to cause a further slow down.
But that's not to say that the bank was wrong or acting in some kind of immoral or biased way. It was a difficult decision with arguments on both sides and to some extent no good options. The decision is at least done in an open manner, with a vote and they have to publish a report and have a big press conference after the announcement. There are for sure hawkish and dovish voices on the MPC (and these probably strongly indicate personal politics) and in the final analysis thy are more on the side of capital rather than labour. But on balance it's about as good as it can be unless you want to take a Marxian view that the whole thing is wrong and we need to start again.
(I used to watch these press conferences and the EU ones as part of my job. For something that is so very important they are exceptionally dull because they have to speak very carefully as the press conferences are important market events and if they say anything injudicious they can cause mayhem. An interesting contrast with the not-a-budget from the government!)
Also FWIW I don't think interest rate rises help financial services much. Recessions are bad for everyone and the big villain here is the government because they should be using fiscal policy to help the bank, the economy and the people, but are instead doing the opposite for some combination of ideology and stupidity.