[Politics] Brexit

[ManOfSussex]

If you believe RT more than the Beeb you just keep watching, its Putin's propaganda channel nothing less. How many times have they breached ofcom guidelines?

15 in the last 10 years with another currently under investigation - they alleged a British company dumped toxins off the coast of Africa, when it hadn't.

I sort of get the impression for some reason RT really doesn't like The UK.

 

[vegster]

I think the Victor Meldrew's are the Remoaners, any snippet of a downturn and up the moaned pop.

What part of this " snippet " don't you get ?

The outlook for wages is "dreadful" with the squeeze on pay lasting for more than 10 years, independent economists have said.
The Institute for Fiscal Studies (IFS) said workers would earn less in real wages in 2021 than they did in 2008.

 

[Deleted member 22389]

Our pay reviews are early next month and we've been told not to expect any rises. We have a freeze in recruitment too until the end of the financial year in April - that decision was taken in October though.

Related to Brexit? Did they give a reason

 

[Soulman]

What part of this " snippet " don't you get ?

The outlook for wages is "dreadful" with the squeeze on pay lasting for more than 10 years, independent economists have said.
The Institute for Fiscal Studies (IFS) said workers would earn less in real wages in 2021 than they did in 2008.

I have been on the same rate as 2005 since we'll before Brexit.

 

[Deleted member 22389]

I have been on the same rate as 2005 since we'll before Brexit.

Exactly. We have been on the same rate for years. I remember working on a building site in 2000, even then the labourers where on about 75 a day.

 

[ManOfSussex]

Related to Brexit? Did they give a reason

No official reason has been given in regards to recruitment or pay and as a company we haven't had a bad financial year either. With the slowdown that is starting to appear though, we gather it's a case of wait-and-see in regards to the last 2 financial quarters of this year from those higher up the food chain to us. We are a financial company and Brexit could impact on us significantly.

 

[Green Cross Code Man]

I have been on the same rate as 2005 since we'll before Brexit.

Yeah, mine has gone up at the most at 1% a year so has in fact been reducing year by year.

 

[Diego Napier]

Worst period in earnings growth for 70 years coming up according to the IFS - http://news.sky.com/story/uk-real-wages-wont-grow-for-a-decade-ifs-think-tank-warns-10670075

What do they know though, they're only experts.

More than likely just more biased reporting by the BBC.

In its analysis of the Autumn Statement, the independent think tank, the IFS, said workers would earn less in real wages in 2021 than they did in 2008.
"This has, for sure, been the worst decade for living standards certainly since the last war and probably since the 1920s," said Paul Johnson, director of the IFS.
"We have seen no increase in average incomes so far and it does not look like we are going to get much of an increase over the next four or five years either."
The "outlook for living standards and for the public finances has deteriorated pretty sharply over the last nine months", he added.
Real average earnings - which factor in the rising cost of living - were forecast to rise by less than 5% between now and 2021. That forecast is 3.7% lower than was projected in March.
"Half of the wage growth projected for the next five years back in March is not now projected to happen. On these projections real wages will, remarkably, still be below their 2008 levels in 2021," Mr Johnson said.
"One cannot stress enough how dreadful that is - more than a decade without real earnings growth. We have certainly not seen a period remotely like it in the last 70 years."
The biggest impact on income in recent years, according to the IFS, has been felt by younger workers. Those aged 60 and over, in contrast, have seen living standards rise.
The squeeze on living standards could be worse during this Parliament than between 2010 and 2015, suggests the Resolution Foundation think tank which campaigns for people on low and middle incomes.
Lower growth in pay, an accelerating rise in the cost of living, and welfare changes such as a freeze on working age benefits all combined to show that incomes on average would only grow by 0.2% a year, it said.
This compares to a rise of 0.5% during the coalition government years - a period of austerity in the aftermath of the financial crisis.
"Taking all this together we can look at the outlook for family incomes in the coming years, and it paints a grim picture," the think tank said.

 

[Steve in Japan]

I spent some time going through the IFS presentations earlier today, particularly the one entitled "The Outlook for Living Standards"

The first few slides deal with what has been happening to real median income in the period 2007-2014. Flat for most of us (those 31-59 years old), down 7% for those aged 22-30. Then it goes on to compare earnings with pensions. Earnings down 7% in the same period, state pension up 9%

This supports those that are saying wages in real terms have been going down for years. Long before the referendum was on the horizon. And whilst we have been in the EU.

We can legitimately question what impact Brexit has on the future economy, but we can't blame the referendum for the fact that most of us are in the poo already

 

[melias shoes]

What part of this " snippet " don't you get ?

The outlook for wages is "dreadful" with the squeeze on pay lasting for more than 10 years, independent economists have said.
The Institute for Fiscal Studies (IFS) said workers would earn less in real wages in 2021 than they did in 2008.

That will be the 'Independent ' Institute of Fiscal Studies partly funded by the EU!

 

[melias shoes]

Exactly. We have been on the same rate for years. I remember working on a building site in 2000, even then the labourers where on about 75 a day.

My rate has risen sharply since brexit. That's a Fact . Sent to all the remoaners. I keep being told of a downturn. We're snowed under with work. They will do their very best to talk or make a recession happen.

 

[studio150]

I spent some time going through the IFS presentations earlier today, particularly the one entitled "The Outlook for Living Standards"

The first few slides deal with what has been happening to real median income in the period 2007-2014. Flat for most of us (those 31-59 years old), down 7% for those aged 22-30. Then it goes on to compare earnings with pensions. Earnings down 7% in the same period, state pension up 9%

This supports those that are saying wages in real terms have been going down for years. Long before the referendum was on the horizon. And whilst we have been in the EU.

We can legitimately question what impact Brexit has on the future economy, but we can't blame the referendum for the fact that most of us are in the poo already

But the period of time before wages are expected to pick up will be prolonged due to the referendum result., which when combined with the higher inflation rates coming due to the lower value of sterling which again is down to the referendum then in real terms wage increases will be negative in real terms.

But the leavers knew they were voting to make themselves poorer, because the cost of getting the country back is worth the cost.

 

[studio150]

My rate has risen sharply since brexit. That's a Fact . Sent to all the remoaners. I keep being told of a downturn. We're snowed under with work. They will do their very best to talk or make a recession happen.

https://www.theguardian.com/business/2016/aug/12/uk-construction-sector-slips-into-recession-for-first-time-in-four-years

 

[Garry Nelson's teacher]

But the period of time before wages are expected to pick up will be prolonged due to the referendum result., which when combined with the higher inflation rates coming due to the lower value of sterling which again is down to the referendum then in real terms wage increases will be negative in real terms.

But the leavers knew they were voting to make themselves poorer, because the cost of getting the country back is worth the cost.

Turkeys and Christmas springs to mind?

 

[Deleted member 22389]

https://www.theguardian.com/business/2016/aug/12/uk-construction-sector-slips-into-recession-for-first-time-in-four-years

The article was from August 2016, unless I have missed something?

Personally I can't see any recession in construction, everywhere you look houses are either being renovated, or new builds going up. Have you seen the numbers of tradesmen on the roads these days?

 

[studio150]

The article was from August 2016, unless I have missed something?

Personally I can't see any recession in construction, everywhere you look houses are either being renovated, or new builds going up. Have you seen the numbers of tradesmen on the roads these days?

Yes from 2016, certainly around where I live, new builds are only small projects rather than the larger developments which have been seen previously. Also until the Autumn Statement, Government contracts were scaled back to reduce funding. So overall there has been a contraction

 

[Steve in Japan]

But the period of time before wages are expected to pick up will be prolonged due to the referendum result., which when combined with the higher inflation rates coming due to the lower value of sterling which again is down to the referendum then in real terms wage increases will be negative in real terms.

But the leavers knew they were voting to make themselves poorer, because the cost of getting the country back is worth the cost.

Yup that's what the forecast says. It might even be right, we don't know.

One forecast in March assumed we'd remain in the EU and said average earnings would scrape back into positive territory by 2021. The second assumes Brexit and forecasts average earnings will be at around 98% of 2007 levels by 2021.

So we are comparing two 5 year forecasts, both of which are probably going to turn out to be incorrect on some of their major assumptions. Because that is the nature of forecasts, isn't it?

On the other hand, our economy was clearly and demonstrably in a poor state pre-Brexit, and there was no compelling evidence that it would get any better. I think it's wrong to assume that if only we had voted Remain, all would have been well. IMHO of course.

 

[Soulman]

I spent some time going through the IFS presentations earlier today, particularly the one entitled "The Outlook for Living Standards"

The first few slides deal with what has been happening to real median income in the period 2007-2014. Flat for most of us (those 31-59 years old), down 7% for those aged 22-30. Then it goes on to compare earnings with pensions. Earnings down 7% in the same period, state pension up 9%

This supports those that are saying wages in real terms have been going down for years. Long before the referendum was on the horizon. And whilst we have been in the EU.

We can legitimately question what impact Brexit has on the future economy, but we can't blame the referendum for the fact that most of us are in the poo already

Exactly, Brexit has come at a perfect time to forget the downturn in wages pre June 2016.

 

[Hamilton]

This thread is full of interesting debate, but until Article 50 gets triggered we really have little idea of which way events will lead us.

We have a referendum result. We know we will be leaving the EU. We are yet to understand or experience the full implications.

 

[melias shoes]

https://www.theguardian.com/business/2016/aug/12/uk-construction-sector-slips-into-recession-for-first-time-in-four-years

You can post as many guardian front pages as you want but I'm telling you that my money is better and we are very busy with order books full.