Re:IMF: Largest driver of EU inflation is corporate profits
by bigfudge on Monday June 26, 2023 @03:51PM
(#36484895)
UK govt spokespeople have regularly argued that employers and employees, both public and private, should limit wage rises or accept lower rises to avoid inflation. It’s mad, but that’s actually what they say.
Ironically, they are most vehement when claiming wage rises in the public sector cause inflation, despite ethe evidence there being much weaker (or non existent according to many economists).
Re:IMF: Largest driver of EU inflation is corporate profits
by galaxyLogic on Monday June 26, 2023 @06:08PM
(#36486549)
UK Government is a right-wing government right? Their goal is to help big business not the employees. Isn't that the definition of right-wing?
Telling workers to accept lower pay makes about as much sense as asking companies to accept lower profits. Yes you can ask but they will not obey.
Re:IMF: Largest driver of EU inflation is corporate profits
by giobox on Monday June 26, 2023 @03:56PM
(#36484966)
Sunak regularly has called on UK private sector leaders to show "restraint" when deciding pay awards. One such example:
https://www.bloomberg.com/news/articles/2022-11-15/uk-s-suna...
Re:IMF: Largest driver of EU inflation is corporate profits
by evancox100 on Monday June 26, 2023 @04:08PM
(#36485135)
Sure but that's an appeal to the employer setting the wages, not the worker. (Or is he talking about executive pay for themselves? I couldn't read the article.)
Re:IMF: Largest driver of EU inflation is corporate profits
by harvey9 on Monday June 26, 2023 @05:00PM
(#36485783)
The thread is about exactly that: an appeal to the employer in the form of advocating lower wages as a means to combat inflation.
Re:IMF: Largest driver of EU inflation is corporate profits
by galaxyLogic on Monday June 26, 2023 @06:13PM
(#36486585)
What he should be calling for is for private sector leaders to show restraint when raising prices. But he doesn't. That just tells you whose side he is on.
I didn't see any mention of calls for workers to accept lower wages in the first article. In the second article, such calls were mentioned but not explicitly referenced or quoted. (Maybe they would be familiar to a British audience.)
But I would say that is different than asking for private sector workers to accept lower wages as an inflation fighting strategy. And note that the actual fiscal policy that the UK has pursued is wage subsidies, as much as 650£ - 1000£ annually it seems. (As described in the second article, not something I'm familiar with beyond that.)