tag:blogger.com,1999:blog-7733583.post4999161167872687255..comments2024-03-04T08:34:20.376+00:00Comments on John's Labour blog: London Labour Link Election for Delegate to Labour Party Conference 2013John Grayhttp://www.blogger.com/profile/14269161145575667147noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7733583.post-85951866330800572852013-02-22T22:40:13.764+00:002013-02-22T22:40:13.764+00:00Hi anon
That is not really true. In the private s...Hi anon<br /><br />That is not really true. In the private sector workers have had some pay increases.<br /><br />The share of ALL wages to national income is at an all time low. This is a long term trend. No wonder we are in such a mess. <br /><br />We have no demand for goods and services in this country. Workers have no money and only massive household debts since they are so broke. This is destroying our economy not Government debt. <br /><br />Due to low demand companies have massive cash balances but will not invest since there is - no demand. <br /><br />Put money into pockets of poor people and they will spend it and create demand. Give tax cuts to millionaires and they will just save it.<br /><br />Workers are going part time for rational reasons. It keeps unemployment down but low wages from such part time employment doesn't kick start the economy. <br /><br />We already have an inefficient workforce compared to our competitors. Low wages = low productively. <br /><br />There are no hyper inflationary pressures. So spend, spend, and spend to get us out of this low demand hole. <br />John Grayhttps://www.blogger.com/profile/14269161145575667147noreply@blogger.comtag:blogger.com,1999:blog-7733583.post-34926193454060852642013-02-22T21:52:27.410+00:002013-02-22T21:52:27.410+00:00"A real increase in public sector pay. Our pa..."A real increase in public sector pay. Our pay in real terms has been cut. Our economy is suffering from a lack of demand. To increase demand, pay more to ordinary workers who will spend it and not give tax breaks to millionaires who will save it."<br /><br />You'll find every one's pay has been cut. You can't grow the economy by just getting the non-public sector workers to pay more tax. That's just a fake-economy.<br />The answer is to create high value jobs, so people can afford to pay public sector worker more. <br /><br />At a time when Jessops and other big retails chains have gone to the wall, it is better to be in work (and getting paid a little less) then no job at all. <br /><br />BTW Why is unemployment going down in a recession?Anonymousnoreply@blogger.com