Quote:
Originally Posted by OLD BOY
You are missing two important points. Firstly, this move simply brings us into line with our competitors. Secondly, the cap didn’t even work, because employers simply raised basic pay to make up for the cap on bonuses.
But all you can see is they get much more than you. It’s time to start thinking about what’s in the interests of the economy. For God’s sake, we are relying on better economic performance to fund our public services. This is not the time to show jealousy towards people earning more than us when there is a greater good to be achieved.
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If you want long-term economic growth, you can't get it by the special brand of Corbynomics which you and Kwarteng have fallen head over heels for at the country's expense...literally!
You need increases in efficiency (such as increased automation, increased economies of scale) or increases in the workforce to grow the economy. What we've had is a reduction in productivity due to Brexit (knocking 4% off GDP) and a reduction in the workforce due to Covid (55+s quitting) and Brexit (with EU citizens returning home and not coming back to the UK).