That doesn’t look right: “Fourteen years of pay freezes mean government has to increase borrowing to reverse real term wage stagnation and decline for public sector.” Muuuuuuch better. - ThreadSky

bearlypolitics.co.uk • 99 days ago

That doesn’t look right:

“Fourteen years of pay freezes mean government has to increase borrowing to reverse real term wage stagnation and decline for public sector.”

Muuuuuuch better.

Comments

cheddargorgeous.bsky.social•98 days ago

Bang on the money - many thanks for the correction

jenny-johnny.bsky.social•99 days ago

As good as the pay increases are they actually fall short of fully catching up with the losses of 14 years.
The Tories drove borrowing up to historic levels but what did the public see for that money? Where did it go?

crocodilecat.bsky.social•98 days ago

You know the answer. Into Tory pockets and out of the country.

jenny-johnny.bsky.social•98 days ago

Yup. It was pretty much a rhetorical question. I would be curious to know the routes it took though. It was going for a long time before the PPE debacle. Remember the missing £4billion that Sunak just wrote off with no attempt to trace it? I wonder how much Cameron 'mislaid' in his day.

crocodilecat.bsky.social•97 days ago

I don't THINK he was THAT awful. I think the haemorrhage of money began with Johnson, stopped under May and then took off again in spades..

jenny-johnny.bsky.social•96 days ago

He was awful enough. Austerity ring any bells? The Hostile Environment was his too. And let us not forget the 'advisory only' Brexit referendum. I recall him fighting bitterly against the EU's proposed anti tax haven laws - could that be the reason for his lack lustre remain campaign?

crocodilecat.bsky.social•96 days ago

Sure. But he didn't create, and then "lose" billions. (I believe the Hostile Environment was down to May in the Home Office.) I think he did want remain; he was just too blinkered to see the ill-informed incomprehension of the public, and the energy of the leave campaign, until it was too late.

magichael.bsky.social•98 days ago

Such a disingenuous headline. Teachers are still down -10% in real terms compared with 2010 incomes! 🤦‍♂️

rickj0.bsky.social•99 days ago

Or even better: "The govt doesn't need to borrow back its own money in order to pay for public services. It can create all the money needed." Is the money in your bank savings account called "bank borrowing"? Likewise, govt bonds (inc. premium bonds) are savings, they don't fund the govt.

soosider3.bsky.social•99 days ago

By their logic borrowing requirement must have come down during 14 years of reducing pay.

paulobro.bsky.social•98 days ago

BBC is finished

dcjohnson.bsky.social•99 days ago

The headline unknowingly makes a case for wealth taxes.

andreaxj.bsky.social•99 days ago

Indeed, as does “pay restoration” compared to the more often used “inflation busting pay hikes” 🙄

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