Yes, that might work, with large all around fenders like bumper cars, and sick bags available for passengers
Off Topic The Politics Thread
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Yes, that might work, with large all around fenders like bumper cars, and sick bags available for passengers
I'm trying to decide whether the first person to go driverless through the Hangar Lane Gyratory System at rush hour is brave or has simply lost interest in living
Yeah, agree, that's probably worse, even though the streets are mostly straight and the lanes are wider
U.K. Faces Longest Fall in Living Standards on Record
By
Simon Kennedy
and
Thomas Penny
November 23, 2017, 4:48 AM EST Updated on November 23, 2017, 9:53 AM EST
U.K.'s Hammond Says Growth Outlook Has Deteriorated
Britons were warned they are on course for the longest fall in living standards since records began 60 years ago after the U.K.’s fiscal watchdog took the ax to its outlook for economic growth.
In an analysis of the government’s latest budget and accompanying report by the Office for Budget Responsibility, the Resolution Foundation said on Thursday that the economy is set to be 42 billion pounds ($56 billion) smaller in 2022 than the OBR predicted in March.
It also calculated wages will not return to their pre-financial crisis levels of 2007 until at least 2025 once inflation is taken into account. Average annual pay is now projected to be 1,030 pounds lower in 2022 than the March forecasts and household disposable incomes will fall for an unprecedented 19 straight quarters between 2015 and 2020, according to Resolution.
The analysis was reinforced by the Institute for Fiscal Studies, which said the OBR’s forecasts implied average earnings would be almost 1,400 pounds lower in 2021 than predicted before the 2016 Brexit referendum and still below their 2008 level.
“We are in danger of losing not just one but getting on for two decades of earnings growth,” IFS Director Paul Johnson told a briefing in London on Thursday.
‘Grim Backdrop’
The warnings underscore the challenge Chancellor of the Exchequer Philip Hammond faced on Wednesday when he released a budget that left him little room for fiscal maneuver as Brexit looms. The OBR slashed its growth forecasts as a result of weak productivity, and Hammond piled further pressure on the budget by pledging extra cash for the health service and abolishing the tax on some housing purchases for first-time buyers.
“Faced with a grim economic backdrop the chancellor will see this budget as a political success,” said Torsten Bell, the Resolution Foundation’s director. “But that would be cold comfort for Britain’s families given the bleak outlook it paints for their living standards.”
The group also estimated that the OBR’s forecast showed on a 10-year rolling basis that productivity growth will fall to 0.1 percent by the end of 2017. That makes it the worst decade for productivity since 1812, when Napoleon invaded Russia.
Productivity Problem
Hammond acknowledged the problem in his Thursday post-Budget interviews. “The way to deliver higher real pay growth is to improve our productivity, there is no other solution,” he told the BBC.
“You can’t generate high wage growth unless you are being more productive and the way we do that is to invest in and encourage the most productive parts of our economy: The service sector, which is globally competitive, the high-tech businesses which are happening all over the U.K.”
Hammond disappointed millions of public-sector workers hoping he might end seven years of pay restraint and lift the 1 percent cap on wage increases in place since 2013.
The Treasury is committed to providing extra money for nurses but “given the spending constraints, other public-sector workers should not be holding their breath in anticipation of an inflation-busting, or perhaps even 1 percent-busitng pay rise,” the IFS’s Johnson said.
By
Simon Kennedy
and
Thomas Penny
November 23, 2017, 4:48 AM EST Updated on November 23, 2017, 9:53 AM EST
- Budget forecasts show incomes falling every quarter to 2020
- Hammond blames poor productivity growth for stagnant wages
U.K.'s Hammond Says Growth Outlook Has Deteriorated
Britons were warned they are on course for the longest fall in living standards since records began 60 years ago after the U.K.’s fiscal watchdog took the ax to its outlook for economic growth.
In an analysis of the government’s latest budget and accompanying report by the Office for Budget Responsibility, the Resolution Foundation said on Thursday that the economy is set to be 42 billion pounds ($56 billion) smaller in 2022 than the OBR predicted in March.
It also calculated wages will not return to their pre-financial crisis levels of 2007 until at least 2025 once inflation is taken into account. Average annual pay is now projected to be 1,030 pounds lower in 2022 than the March forecasts and household disposable incomes will fall for an unprecedented 19 straight quarters between 2015 and 2020, according to Resolution.
The analysis was reinforced by the Institute for Fiscal Studies, which said the OBR’s forecasts implied average earnings would be almost 1,400 pounds lower in 2021 than predicted before the 2016 Brexit referendum and still below their 2008 level.
“We are in danger of losing not just one but getting on for two decades of earnings growth,” IFS Director Paul Johnson told a briefing in London on Thursday.
‘Grim Backdrop’
The warnings underscore the challenge Chancellor of the Exchequer Philip Hammond faced on Wednesday when he released a budget that left him little room for fiscal maneuver as Brexit looms. The OBR slashed its growth forecasts as a result of weak productivity, and Hammond piled further pressure on the budget by pledging extra cash for the health service and abolishing the tax on some housing purchases for first-time buyers.
“Faced with a grim economic backdrop the chancellor will see this budget as a political success,” said Torsten Bell, the Resolution Foundation’s director. “But that would be cold comfort for Britain’s families given the bleak outlook it paints for their living standards.”
The group also estimated that the OBR’s forecast showed on a 10-year rolling basis that productivity growth will fall to 0.1 percent by the end of 2017. That makes it the worst decade for productivity since 1812, when Napoleon invaded Russia.
Productivity Problem
Hammond acknowledged the problem in his Thursday post-Budget interviews. “The way to deliver higher real pay growth is to improve our productivity, there is no other solution,” he told the BBC.
“You can’t generate high wage growth unless you are being more productive and the way we do that is to invest in and encourage the most productive parts of our economy: The service sector, which is globally competitive, the high-tech businesses which are happening all over the U.K.”
Hammond disappointed millions of public-sector workers hoping he might end seven years of pay restraint and lift the 1 percent cap on wage increases in place since 2013.
The Treasury is committed to providing extra money for nurses but “given the spending constraints, other public-sector workers should not be holding their breath in anticipation of an inflation-busting, or perhaps even 1 percent-busitng pay rise,” the IFS’s Johnson said.
Productivity Problem
Hammond acknowledged the problem in his Thursday post-Budget interviews. “The way to deliver higher real pay growth is to improve our productivity, there is no other solution,” he told the BBC.
“You can’t generate high wage growth unless you are being more productive and the way we do that is to invest in and encourage the most productive parts of our economy: The service sector, which is globally competitive, the high-tech businesses which are happening all over the U.K.”
Hammond disappointed millions of public-sector workers hoping he might end seven years of pay restraint and lift the 1 percent cap on wage increases in place since 2013.
The Treasury is committed to providing extra money for nurses but “given the spending constraints, other public-sector workers should not be holding their breath in anticipation of an inflation-busting, or perhaps even 1 percent-busitng pay rise,” the IFS’s Johnson said.
Missed this and this was a direct quote? Does this knob understand the modern world? You can't freeze and expect people to be told to work harder when confidence in government is at a all time low. Here the government works for Big Business and itself. Big Business just works for itself and drops a few quid to the power to ensure this continues ... the whole idea needs to be turned on it head
The government should be working for the people . Big Business has forgotten who and want the customer is
The UK customer id drunk on consumerism
There is another solution: stop spending money you don't have and ban Black Friday from all UK IP addresses and all high street stores.
Readjust all house values in the UK
Hammond acknowledged the problem in his Thursday post-Budget interviews. “The way to deliver higher real pay growth is to improve our productivity, there is no other solution,” he told the BBC.
“You can’t generate high wage growth unless you are being more productive and the way we do that is to invest in and encourage the most productive parts of our economy: The service sector, which is globally competitive, the high-tech businesses which are happening all over the U.K.”
Hammond disappointed millions of public-sector workers hoping he might end seven years of pay restraint and lift the 1 percent cap on wage increases in place since 2013.
The Treasury is committed to providing extra money for nurses but “given the spending constraints, other public-sector workers should not be holding their breath in anticipation of an inflation-busting, or perhaps even 1 percent-busitng pay rise,” the IFS’s Johnson said.
Missed this and this was a direct quote? Does this knob understand the modern world? You can't freeze and expect people to be told to work harder when confidence in government is at a all time low. Here the government works for Big Business and itself. Big Business just works for itself and drops a few quid to the power to ensure this continues ... the whole idea needs to be turned on it head
The government should be working for the people . Big Business has forgotten who and want the customer is
The UK customer id drunk on consumerism
There is another solution: stop spending money you don't have and ban Black Friday from all UK IP addresses and all high street stores.
Readjust all house values in the UK
Is it true that 90% of the European Medicines Agency (EMA) personnel are not British and pay no UK income tax?
if thats the case why does it matter where its based
A small price to pay for all the Brexit positives. No idea what those are but Col assured me they’re substantial.
I don’t know the ratio of staff by nationality, but if 10% of them are British that’s over representation out of a group of 28 nations. Of course all the ancillary staff will be British, or perhaps immigrants paying British income tax. EU civil servants pay EU income tax, between 8% and 45% (no tax free allowances) plus a special levy of 6%. All of the ones based in London will spend a lot on housing, shopping, schooling for their kids etc. Is your sum contribution to NZ the tax you pay? Having the agency here brings tens of thousands of National Medicines regulators and Pharma company staff to London every year, spending money. It also makes us a hub for research and investment. Not being a member may well put the approval of new medicines back 6-12 months for the U.K. because I can guarantee you that the Pharma industry priority will be the EU regulatory process over the U.K. one. If the U.K. one (no planning to date) has different requirements to the EU one then it will be further deprioritised.
Losing the EMA is bad ( though not hugely so) for the economy, leaving the EMA is bad for our health, literally.
Here’s another bunch of stuff that isn’t true about EU staff, for future reference.
http://u4unity.eu/hoax.htm
Are you saying that Brexit has caused the fall in productivity over the last 10 years?
No, Col. I’d have thought that much was exceptionally ****ing obvious.
When do you think we’ll start seeing the Brexit wins?
nice holidays
Benefits package
The European Medicines Agency offers staff a competitive benefits package, in line with the Staff Regulations
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. The package includes:- medical cover;
- allowances;
- contribution towards private school fees for children;
- a final salary based pension scheme.
Annual leave entitlement starts at 24 days. This is in addition to the Agency holidays.
Our cities have lost out on European city of culture as rightly the EU has now dismissed applications from Belfast which looks a very good bet as in 2023 it is 25 years since the good Friday agreement. Never mind goodbye to a estimated £4 billion
Liverpool our last city that won the award saw £750 million in the first month of the award. We will have to have our own I guess and I hope Norwich wins if we continue the idea
Prize money will be nothing of course
Col will say **** them anyway so no biggy
Liverpool our last city that won the award saw £750 million in the first month of the award. We will have to have our own I guess and I hope Norwich wins if we continue the idea
Prize money will be nothing of course
Col will say **** them anyway so no biggy
I have a good friend high up in that organisation they are relocating back to Europe. Mirka has already sold her flat close to Canary Wharf for £750k clever girl as prices already falling like a stone there
Exodus ... loving it
It’s all heading for a deferral I tell thee
Doesn’t change the question. Just wondering as I’ve got stuff to do tomorrow and don’t want to miss it.