Pay and Prices

A free market capitalist economy always seeks to drive the price of labour down and the price of goods and services up.

The basic job of unions is to keep the price of labour high.

This job hasn’t been done very well particularly in the public sector where key leaders ran a mile from the momentum created in the pensions dispute. This led employers everywhere to continue the offensive on pay and pensions.

Now there is gnashing of teeth that public sector pay is worth about 20 per cent less than it was four years ago and 500,000 public sector workers earn less than the living wage.

In the rubble of collective bargaining structures unions may or may not break the ideological acceptance that somehow being low paid prevents unemployment and actually begin to fight for pay again. Every economist know when pay lags behind prices the economy goes into recession – even the governor of the Bank of England has an inkling of this. Because they have another trick up their sleeve and he controls it. If and when pay levels rise in comparison with inflation of other prices he will raise interest rates and our hard fought for pay rises will end up back in the bankers pockets as they put mortgages up.

But there could be a nasty shock in 2014 as the finance markets remain volatile and by and large as they were before the last crash. Many of the most powerful financiers relish more money market chaos because, as in 2008, it is then when they can make really big quick bucks.

The Workers’ Party Twitter Feed

EU Is still trying to rule Britain, Barnier tries demanding EU vessels have access to British waters otherwise there will be exclusion from EU markets; that there is a risk of a no deal. We must have sovereign rights over our fishing grounds.

EU fishing company bosses talk about winning a game with respect to Britain's fishing waters; but the struggle over fishing rights is serious. Ask Venezuelans if defence of sovereignty is a game, or Palestinians whether gaining it is mere play.

The EU has realised that Brexit is no game; it is the serious desire of the British population. Countries are panicking about the prospect of no-deal, as it will hurt economies in ways they refused to accept. Britain has the upper hand. Get Brexit done!

Pandemic planning in Britain is a Mess. Pandemic planning is split between the Joint Biosecurity Centre, the National Covid Response Centre and the Covid19 Taskforce.
Four separate IT systems are used (Synergy, CTAS, SGSS and HP Zone), meaning data is lost.

Load More...

All text on this site is copyright The Workers' Party of Britain. Established 2006