In a move which commenced earlier this year four of Finland’s main industrial unions are planning to merge to create one powerful 260,00 strong union whose focus will be on Finland’s exporting…Read more…
Len McCluskey: Why I Am Standing For General Secretary
Trade unionism matters more than ever. With the economy still in a slump, the Tories in power and the shadow of Brexit hanging over millions of jobs, unions are the only line of defence for working…Read more…
What we talk about when we talk about insecure work
Today sees the launch of a new TUC report mapping insecurity at work in Britain today, and how key risks associated with work have been transferred to working people, while the financial rewards from flexibility accrue to employers. We find that 3.2 mi…Read more…
For the last two years London per capita income was DOUBLE the rest of the UK
Despite all the rhetoric about rebalancing and powerhouses, new regional figures show how far London has moved from the rest of the country. In 2014 and 2015 gross value added (GVA) per capita was more than double in London compared to the average over the rest of the UK. In cash terms: £43,600…Read more…
Brexit economics update: the economy remains sluggish
The economy has been slow to grow, a trend that predates the referendum, and there are signs it will get worse. The latest round of economic data from the Office of National Statistics gives us a more robust picture of the third quarter of 2016 and the…Read more…
IMF in radical challenge to “accepted truths” on globalization
The IMF has published a new feature on globalisation. It promotes a radical debate, with contributions from leading economists and public figures – not least TUC General Secretary Frances O’Grady – and no-one defends the status quo. This blog summaries the contributions, with a few observations of…Read more…
Green Paper is a missed opportunity to create a Corporate Governance system that works for everyone
The glaring omission of yesterday’s Corporate Governance Green Paper is its failure to include any proposals to deliver on Theresa May’s promise to put workers on company’s boards. On other issues, it includes a few sensible suggestions, but these are wedged between others that would be make little…Read more…
Worker board representation must mean what it says on the tin
The government’s Green Paper on corporate governance is expected today (Tuesday 29th November) and should include the government’s proposals for putting into practice the Prime Minister’s repeated commitment to have workers represented on company boards. As I blogged last week, there are three key…Read more…
This is still austerity, but not as we knew it
There were welcome signs in the 2016 Autumn Statement that the Chancellor has learned from his predecessor’s mistakes. The OBR forecast greatly increased borrowing (around £120bn more over 5 years) because they see uncertainties around the referendum meaning a weaker economy especially over the…Read more…
No bones about it: the worst real earnings decline in at least 162 years
Frances O’ Grady’s immediate reaction to the Autumn Statement was that Today’s OBR forecast shows that the average annual wage will be £1,000 lower in 2020 than predicted at the Budget. And this is on top of wages still having not recovered to their 2007 levels. This is yet another blow to ordinary…Read more…
An Autumn Statement for Everyone? Looks like we’ll have to wait for spring
Last week we set out five tests for the Chancellor to meet for an Autumn Statement that works for everyone. Here’s how we think he’s done. Test 1: Set out a plan for a Brexit that protects working people’s jobs and rights. As the OBR make clear, Brexit is the biggest factor affecting the economy…Read more…
Productivity and the #AutumnStatement: an antidote to Brexit?
Philip Hammond committed to raising productivity in today’s Autumn Statement. A National Productivity Investment Fund worth £23bn will focus on infrastructure, including digital communications, and research and development. £23bn sounds like a lot of money; as Geoff has blogged elsewhere, it is…Read more…
JAM tomorrow? Not much in the Autumn Statement for those Just About Managing
In the last few days the press has been full of claims that this afternoon’s autumn financial statement would be all about the ‘just about managing’. This was the first chance for the new Conservative leadership to show how they would build an ‘economy that works for everyone’ and to turn Theresa…Read more…
Prime Minister reconfirms commitment to workers’ representation on company boards before #Autumn Statement
Speaking immediately before the #Autumn Statement to a packed House of Commons, the Prime Minister clearly said that the government would bring in worker representation on company boards: I believe that we should see workers’ representation on boards. I make no apology for the fact that this…Read more…
#AutumnStatement: Chancellor goes a little way to meet his investment challenge
Today the Chancellor has finally recognised that spending on infrastructure strengthens the economy. Measures the TUC has long called for were announced, including more cash for housing, high speed broadband, rail and roads. Overall the Chancellor’s measures amounted to £23bn, a big sounding…Read more…
#AutumnStatement: Working people are facing a hit of £1000 per year by 2020
The OBR figures released today for the Autumn Statement showed lower economic growth translating into lower wage growth for the next four years. On top of this, weaker sterling has translated into significantly higher inflation, especially in 2017. For…Read more…
The #AutumnStatement chose corporate tax cuts over the pay rise Britain’s workers need
In the details of Philip Hammond’s Autumn Statement came a worrying confirmation for those of us campaigning for a pay rise for Britain’s workforce. The Autumn Statement’s accompanying OBR forecast shows that the average annual wage will be £1,000 lower in 2020 than predicted at…Read more…
Ernest Bevin and three lessons for ‘Rethinking Economics’
(This post is the fuller version of remarks I made at the launch of Econocracy: The Perils of Leaving Economics to the Experts, by Joe Earle, Cahal Moran and Zach Ward-Perkins of ‘Rethinking Economics, London School of Economics, 21ST November 2016.) Parallels have rightly been drawn between the…Read more…
Workers on boards would become part of a new, and better, normal
The Prime Minister used her speech to the CBI this morning to appear to dilute her previous commitment to put workers on company boards. If this is the case, it represents a huge missed opportunity to put in place a different model for British business…Read more…
The vindictive policy that punishes children for having more than one brother or sister
Last year, in his summer Budget, George Osborne announced a couple of measures designed to penalise large low-income families. One was the reduction in the Benefit Cap, from £26,000 to £23,000 in London, £20,000 elsewhere. The limit mainly applies to people who need to claim Housing Benefit for…Read more…