Regular pay growth at lowest rate since records began August 13, 2014 Regular pay has grown at its lowest rate since records began in 2001, according to the Office for National Statistics. Average earnings excluding bonuses between April and June rose by just 0.6 per cent year-on-year, while pay in the three months to May had risen by 0.7 per cent. In comparison, consumer price [...]
Labour: True fall in wages missed by official statistics August 11, 2014 Real wages have fallen even further than official data show, the Labour Party claimed today, arguing the figures do not properly measure the self-employed. Labour said the average pay of a self-employed worker is down £2,000 since 2010. But they are not included in official data, which are based on surveys of employers. “Worryingly under the [...]
Forget pensions: We need radical Isa reform to really tackle the UK savings crisis August 4, 2014 The UK’s pensions crisis is no longer looming. It’s here. We are dangerously over-heating, and millions of British households, who are simply not saving enough for later life, face a bleak financial future – unless there is swift, radical action. UK adults need and deserve a solid framework that will help them save and plan [...]
Interest rate hikes risk a household debt tragedy if we don’t act now July 23, 2014 Beware the economist bearing forecasts. The only thing that’s ever certain about economic predictions is that they’ll turn out to be wrong. But this one’s nailed on: interest rates are going to rise. Hardly the riskiest punt – the current emergency base rate of 0.5 per cent can’t be sustained forever and, as yesterday’s Monetary [...]
As MPs warn of a student loan tipping point, is the system now fundamentally broken? July 22, 2014 Liam Byrne, shadow minister for universities, science and skills, says Yes. Britain’s student finance system is as broken as the Liberal Democrats’ promise not to increase fees – which is what got us into this mess in the first place. By trebling tuition fees to £9,000 per year, the government has overloaded young people – already [...]
There will be more Putins – and more Flight MH17s – if Europe fails to act now July 21, 2014 “Pay no attention to that man behind the curtain” – The Wizard in L Frank Baum’s The Wizard of Oz In her able, forthright way, Hillary Clinton has just painfully called Europe’s bluff. Speaking just after the horrific details of the Malaysian plane disaster became clear – where it looks increasingly likely that murderously clueless [...]
…but wage growth lags further behind pace of price inflation July 16, 2014 FALLING unemployment and a rise in the number of jobs announced yesterday both failed to boost the value of wages, which grew 0.7 per cent in the quarter compared to a year ago, excluding bonuses. The figure from the Office of National Statistics (ONS), which excludes those who are self-employed, is just 0.3 per cent [...]
UK unemployment at lowest rate since December 2008 July 16, 2014 The unemployment rate has continued to fall, dropping from 6.6 per cent to 6.5 per cent during the three months to May in line with analysts' predictions – the lowest it has been since October to December 2008. The data released by the Office for National Statistics (ONS) shows that unemployment has been dropping for a [...]
Real wages continue fall to dash hopes that cost of living crisis is easing July 16, 2014 The recovery is still some way off reaching people's pockets, as earnings growth slowed to a meagre 0.3 per cent in the three months to May, according to the Office of National Statistics. Average earnings for the three months to May fell from a revised 0.8 per cent figure for April to its lowest [...]
Don’t give up on the Union: Scots should vote with their heads, not their hearts July 3, 2014 SEVEN hundred years ago, the Scots won a glorious victory at Bannockburn. The Yes campaign says we should seize this September’s referendum to be that nation again! My heart hears the call: I am Scots first and foremost. But my head says no. Why give up on a Union that has immeasurably improved the prosperity [...]