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Originally posted by hedgehog50
Do you believe that "average wages are plummeting at levels not seen since the 1780s"? No, I didn't say that though. I queried those figures. I don't believe that's the case in nominal or real terms. I was pointing out that your figures were nominal and not real wage figures and it's real figures which matter in this context. What is clear is that real wages have not recovered since the GFC for average workers and that this is a genuine problem. Austerity has exacerbated the impact of the GFC enormously. Inequality and low levels of productivity are the two biggest structural problems for our economy.
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| hedgehog50 |
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Originally posted by CambridgeEagle
No, I didn't say that though. I queried those figures. I don't believe that's the case in nominal or real terms. I was pointing out that your figures were nominal and not real wage figures and it's real figures which matter in this context. What is clear is that real wages have not recovered since the GFC for average workers and that this is a genuine problem. Austerity has exacerbated the impact of the GFC enormously. Inequality and low levels of productivity are the two biggest structural problems for our economy. My post was in answer to a post saying that "average wages are plummeting at levels not seen since the 1780s"? From what you say, it appear that you probably disagree with that post too?
We have now sunk to a depth at which the restatement of the obvious is the first duty of intelligent men. [Orwell] |
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Originally posted by hedgehog50
My post was in answer to a post saying that "average wages are plummeting at levels not seen since the 1780s"? From what you say, it appear that you probably disagree with that post too?
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| nickgusset |
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In today's election news... White Van Woman says she will reduce immigration like what she didn't last time.
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| hedgehog50 |
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Originally posted by CambridgeEagle
Comparing a number in 2016 vs a number some years earlier is only relevant if you take inflation into account. Your numbers don't. Taking inflation into account gives real wage figures, which show average real wages have still not recovered since GFC, most of which time the Tories have been in government. i.e. you had more purchasing power then compared with now. You could turn your cash into more in the way of housing, food, clothing etc. Inflation 2000 to 2016 is around 56%. So £509 under the Tories in 2016 and £306 under Labour in 2000. £306 plus 56% is £477. So still £32 a week better off under the wicked Tories.
We have now sunk to a depth at which the restatement of the obvious is the first duty of intelligent men. [Orwell] |
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| hedgehog50 |
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Originally posted by nickgusset
In today's election news... White Van Woman says she will reduce immigration like what she didn't last time. While we are in the EU we can do very little about controlling immigration. Once we are out, we can do a great deal.
We have now sunk to a depth at which the restatement of the obvious is the first duty of intelligent men. [Orwell] |
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| nickgusset |
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Originally posted by hedgehog50
While we are in the EU we can do very little about controlling immigration. Once we are out, we can do a great deal. We shall see. But I think you'll be disappointed.
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Originally posted by nickgusset
In today's election news... White Van Woman says she will reduce immigration like what she didn't last time. Also in today's election news,Corbyn says he will abolish hospital car park fees (good idea I might add.). But then adds he will tax people who have private health care insurance....what the people who help free up the NHS.
always a Norwood boy, where ever I live. |
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| legaleagle |
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Originally posted by hedgehog50
While we are in the EU we can do very little about controlling immigration. Once we are out, we can do a great deal. So,that's why net non EU immigration rose by 164,000 to y/e 2016,largely under her watch... In any event the stats (both EU and non EU) are rubbish because they include students who...bring revenue,are here short term,and hopefully in later life buy goods from here in business as a result of links formed when they were here...our estimated international student population is over 100,000. Perceived hostility to foreigners is likely to erode our market share in the international education field and have long term impact on trade. Edited by legaleagle (08 May 2017 7.08pm)
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| croydon proud |
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Originally posted by serial thriller
What worse for the average person could Labour do than this lot, where average wages are plummeting at levels not seen since the 1780s, while the Times Top rich list from 2016 shows a 14% increase in the highest incomes over the last year? Honestly, how could this country be run any worse than that? Well said that man!
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| hedgehog50 |
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Originally posted by croydon proud
Originally posted by serial thriller
What worse for the average person could Labour do than this lot, where average wages are plummeting at levels not seen since the 1780s, while the Times Top rich list from 2016 shows a 14% increase in the highest incomes over the last year? Honestly, how could this country be run any worse than that? Well said that man! It is utter nonsense to try to compare monetary values and economies of over 200 years ago with today.
We have now sunk to a depth at which the restatement of the obvious is the first duty of intelligent men. [Orwell] |
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Agree with this
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Originally posted by elgrande
Also in today's election news,Corbyn says he will abolish hospital car park fees (good idea I might add.). But then adds he will tax people who have private health care insurance....what the people who help free up the NHS. I am already taxed on my health care that comes as part of my salary package. Either McDonnell doesn't realise that people are already taxed or I will have to pay even more, for not using the NHS. This goes back to my point several pages ago. The NHS may well need more money but it needs a complete overhaul, looking at what the NHS should and shouldn't provide, funding, training, and how it can work along with private health care. Unfortunately it appears to be beyond the wit of our politicians and probably the general public too.
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Originally posted by serial thriller
From that commie loving source, Forbes. Again, I ask, how can Labour possibly outdo the current lot in terms of mismanaging a country? Where ex serviceman are all over our streets yet where our taxes continue to go in to building bombs for regimes we've never heard of, in countries we never heard of, to kill people we never heard of. Where wages in real terms for average people have fallen more sharply than at any point in over two centuries, yet where, because of income increases for the very richest, we're told the economy is doing well!?!? People in power are absolutely mugging us off. if we have never heard of them how do we know it's happening?
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Originally posted by serial thriller
From that commie loving source, Forbes. Again, I ask, how can Labour possibly outdo the current lot in terms of mismanaging a country? Where ex serviceman are all over our streets yet where our taxes continue to go in to building bombs for regimes we've never heard of, in countries we never heard of, to kill people we never heard of. Where wages in real terms for average people have fallen more sharply than at any point in over two centuries, yet where, because of income increases for the very richest, we're told the economy is doing well!?!? People in power are absolutely mugging us off. That's the most vapid and idiotic article I've ever read. Unsurprisingly the bloke is part of the Adam Smith Institute, people who think Economics was solved in the 18th century, and so don't bother with any actual economic analysis. The claim about worst decade of wage growth since 1780s appears to be from the resolution foundation. I can't actually find that claim anywhere else, but I've only looked on the RF website briefly. Here is the story from a much more credible source with less of the unfounded claims made by the bloke in Forbes:
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Originally posted by hedgehog50
Inflation 2000 to 2016 is around 56%. So £509 under the Tories in 2016 and £306 under Labour in 2000. £306 plus 56% is £477. So still £32 a week better off under the wicked Tories. Most of that period was under Labour... Look at the blue line on the first graph down on that link. It's lower at the end (most recent data) than pre-GFC AND at the time the Conservatives took office. I think I'll trust the ONS on this one.
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Originally posted by elgrande
Also in today's election news,Corbyn says he will abolish hospital car park fees (good idea I might add.). But then adds he will tax people who have private health care insurance....what the people who help free up the NHS. A better idea would be using car parking charges (for visitors and those easily able to walk) to improve public transport networks around hospitals. People should be disincentivised from using cars, especially around hospitals and especially in London, and given appropriate means not to use cars. Just to be clear the tax is an increase in IPT on healthcare insurance. Doesn't seem wholly unfair given the profile of those people who tend to have private health insurance, but perhaps the incentives won't run in the right way. Important study of the Laffer curve required on that one.
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