Is High Unemployment Looming?

[naomi24]

Yesterday brought news that thousands of steel and oil jobs are to go, and I've just discovered that back in August the Telegraph  reported that the Chancellor is said to be considering raising employers NI contributions.  Darren Jones, chief secretary to the Treasury, said “We will have to consider some tax measures at the Budget on October 30th whilst honouring that promise to the public not to increase income tax, employee National Insurance or VAT”. Previously, the Chancellor pledged to simply “not increase National Insurance”.

 

https://whymedia.com/business-news-datasource/2024/08/22/chancellor-said-to-be-eyeing-an-employers-national-insurance-hike-in-a-tax-raid-on-jobs/

 

A report from the Recruitment and Employment Confederation and consultants KPMG a few days ago warned that companies have already started holding off hiring employees.

 

More half-truths from this government - and I suspect more hardship to come for many.  This is hardly the way to encourage investment abd growth - but then Labour never did understand business or the economy.  I wouldn't trust them with a child's piggy bank!

[douglas9401]

This stuff doesn't just fall from space, it's been building for a good while now.

It's not a party political issue unless you're desperate for another pointless spat to show off your blue undies.

[naomi24]

I'll ignore your bitchiness, douglas - I know you can't help it.  It is very definitely a party political issue.  

 

[nicebloke1]

NO.

[THECORBYLOON]

Perhaps if the Tories had been a bit more honest about the state of the books, the measures being considered now would have been apparent prior to the election.

[naomi24]

Nonsense.  That's what this bunch would like you to believe.  If the books were in that much of a mess this government wouldn't have been able to throw stupid amounts of money at the already comfortably off  in order to cosy up to the unions.  

[THECORBYLOON]

Nonsense? 

'In January, chair of the OBR, Richard Hughes, told a House of Lords committee that the independent government economic watchdog relies “on what the Government tell us are their desired paths for spending on public services” and said that the then government provided “almost no detail” about how it would deliver falls in public spending as a share of GDP. He said “the government have not even bothered to write down their departmental spending plans" underpinning their plans for public services.'

[naomi24]

It might be difficult for you, corby, but that has nothing to do with this.

[THECORBYLOON]

You called my claim about the books, "nonsense" and I replied.

You claimed Labour were telling half-truths but the Tories weren't being honest with the OBR, were they?

 

[naomi24]

It is nonsense - and your post has nothing to do with the OP.

[ToraToraTora]

11:15 ...also the "books" are public record. Also the shadow chancellor gets given pertinent data so they can make a bun fight of it by tradition so if Robber Reeves claims she didn't know she's either telling porkies or she's incompentant.

[THECORBYLOON]

If the details the OBR needed weren't available to them, why would they have  been made available to the  Shadow Cabinet?

[naomi24]

Please stick to the OP.

[Togo]

When Starmer said that the aim was to get people back into work and off benefits it was obvious that he meant the opposite. Everything he has said was just a false trail for what was really going to happen. Conjenital liar. 

[New Judge]

High employment is very likely.

Large companies will not invest or expand whilst there is a government of this sort which seems intent on labelling any sort of decent profits as "excessive" and ripe for "windfall taxes". Industrial concerns will not invest when there is no coherant energy security policy, only one which depends on the wind blowing and the sun shining.  

Small and medium sized companies  will be reluctant to recruit when there is the threat of increased employment taxes in the form of employers NI contributions.

These are all matters under the government's direct control.

[Old_Geezer]

Surely how money was intended to be spent or not has little to do with any snapshot of the economy along the way. Those in politics, especially those with economic backgrounds, must surely know how the present state was changing over time.

[Old_Geezer]

Re unemployment, not a blessed clue. It goes up and down.

But if it does increase, all the more reason to lower the state retirement age to, 55 say, and free up positions for all those unemployed working age citizens.

[New Judge]

"...all the more reason to lower the state retirement age to, 55 say,"

But the government spent eight years equalising men's and women's state pension ages at 65. It is now 66, by 2028 it will rise to 67 with almost inevitably further increases after that. This is said to be because State pensions will otherwise become unaffordable. So how is that unaffordability to be dealt with if the age is lowered to 55?

[davebro3]

There are plenty of jobs on offer but recruitment seems to be difficult. Square pegs / round holes.

[New Judge]

"Square pegs / round holes."

Actually, dave, there's a bit more to it than that.

Holes of various shapes and sizes are available. However, many of the pegs go to great lengh to ensure hey don't fit them. Many more don't bother to see whether they would fit in the holes at all. 

[ynnafymmi]

My company has started employing our Nigerian friends again.They seem prepared to work at a manual job(even though most are university graduates).Aberdeen has something like a 25% unemployment rate.Whats the reason for these Aberdonians not to be working?